Answered step by step
Verified Expert Solution
Question
1 Approved Answer
how do I do this? also what is the fifo cogs? Blue Company's record of transactions for the month of April was as follows. Purchases
how do I do this? also what is the fifo cogs?
Blue Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 1.560 @ $6.00 April 3 1,300 @ $10.00 4. 3.900 @ 6.08 9 3.640 a 10.00 8 2.080 6.40 12 1.560 @ 11.00 13 6.50 3.120 23 3.120 11.00 21 1.820 @ 6.60 27 2.940 @ 12.00 29 1.300 @ 6.79 11.960 13.780 Your answer is correct. Assuming that periodic inventory records are kept in units only. calculate the average-cost per unit. (Round answer to 2 decimal places, eg. 2.76) Average-cost per unit $ 6.35 per unit e Textbook and Media Attempts: 1 of 5 used Question Part Score 2/2 (a2) Your Answer Correct Answer (Used) Your answer is partially correct. Assuming that periodic inventory records are kept in units only.compute the inventory at April 30 using LIFO and average-coso. (Round answer to O decimal places, eg 2760.) LIFO s 12250 Avezze-cost 5 11557 IK Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO. (Round answer to O decimal places, eg. 2,760.) (1) FIFO (2) LIFO Inventory $ S
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started