Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Concord SA's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 240 @

image text in transcribed

image text in transcribed

Concord SA's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 240 @ R$ 5.50 April 5 440 4 540 @ 5.60 12 340 11 440 @ 5.80 27 1.080 18 340 @ 5.90 28 150 26 740 @ 6.20 30 340 6.40 (a1) Your answer is correct. Your answer is partially correct. If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would be shown as ending inventory under: (1) Specific identification, (2) FIFO, and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to 2 decimal places, e.g. 6,548.25.) (1) Specific identification (2) FIFO (3) Average-cost Ending Inventory R$ 3974 R$ 3974 R$ 3739 e Textbook and Media Save for Later Attempts: 1 of 2 used Submit Answer Concord SA's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 240 @ R$ 5.50 April 5 440 4 540 @ 5.60 12 340 11 440 @ 5.80 27 1.080 18 340 @ 5.90 28 150 26 740 @ 6.20 30 340 6.40 (a1) Your answer is correct. Your answer is partially correct. If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would be shown as ending inventory under: (1) Specific identification, (2) FIFO, and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to 2 decimal places, e.g. 6,548.25.) (1) Specific identification (2) FIFO (3) Average-cost Ending Inventory R$ 3974 R$ 3974 R$ 3739 e Textbook and Media Save for Later Attempts: 1 of 2 used Submit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Analysis With Microsoft Excel

Authors: Conrad Carlberg

3rd Edition

0789736640, 9780789736642

More Books

Students also viewed these Accounting questions

Question

What are the attributes of a technical decision?

Answered: 1 week ago