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Current Attempt in Progress Novak Company's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1
Current Attempt in Progress Novak Company's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 440 @ $7.50 April 5 640 4 740 @ 7.70 12 540 11 640 @ 8.00 27 1,480 18 540 @ 8.00 28 150 26 940 @ 8.40 30 540 @ 8.70 * Your answer is incorrect. Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 4 decimal places, e.g. 2.7682.) Average-cost per unit $ Your answer is partially correct. Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round final answers to O decimal places, e.g. 6,548.) Ending Inventory eTextbook and Media (1) FIFO Your answer is partially correct. 8814 (2) LIFO (3) Average-cost 8383 $ 10312 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) FIFO, (2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to O decimal places, e.g. 6,548.) Ending Inventory (1) FIFO (2) LIFO 8814 $ 8383 (3) Average-cost 10312
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