E8-11 (Lo3) (FIFO, LIFO and Average-Cost Determination) John Adams C April was as follows. Purchases April 1 (balance on hand) 600 $6.00 1,500 6.08 800 6.40 13 21 29 1,200 6.50 700 @ 6.60 500 @ 6.79 5,300 structions (a) Assuming that periodic inventory records are kept in units onl (2) average-cost. ssuming that perpetual inventory records are kept in dollars (c) Compute cost of goods sold assuming periodic inventory pro (d) In an inflationary period, which inventory method-FIFO,I E8-11 (Lo3) (FIFO, LIFO and Average-Cost Determination) John Adams C April was as follows. Purchases April 1 (balance on hand) 600 $6.00 1,500 6.08 800 6.40 13 21 29 1,200 6.50 700 @ 6.60 500 @ 6.79 5,300 structions (a) Assuming that periodic inventory records are kept in units onl (2) average-cost. ssuming that perpetual inventory records are kept in dollars (c) Compute cost of goods sold assuming periodic inventory pro (d) In an inflationary period, which inventory method-FIFO,I