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How to solve this question below? Sunland Companys record of transactions concerning part X for the month of April was as follows. Purchases Sales April
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Sunland Companys record of transactions concerning part X for the month of April was as follows.
Purchases | Sales | ||||||||
April 1 | (balance on hand) | 320 | @ | $6.30 | April 5 | 520 | |||
4 | 620 | @ | 6.40 | 12 | 420 | ||||
11 | 520 | @ | 6.70 | 27 | 1,240 | ||||
18 | 420 | @ | 6.70 | 28 | 150 | ||||
26 | 820 | @ | 7.10 | ||||||
30 | 420 | @ | 7.30 |
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 0 decimal places, e.g. 6,548.)
(1) FIFO | (2) LIFO | (3) Average-cost | ||||
Ending Inventory | $ | $ | $ |
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