Exercise 8-11 (Part Level Submission)

Waterway Companys record of transactions for the month of April was as follows.

Purchases							Sales
April 1	(balance on hand)		1,380	@	$6.00		April 3		1,150	@	$10.00
4			3,450	@	6.08		9		3,220	@	10.00
8			1,840	@	6.40		11		1,380	@	11.00
13			2,760	@	6.50		23		2,760	@	11.00
21			1,610	@	6.60		27		2,070	@	12.00
29			1,150	@	6.79				10,580
			12,190

Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO. (Round answer to 0 decimal places, e.g. 2,760.)

		(1) FIFO		(2) LIFO
Inventory		$		$