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Hull Companys record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 230 @
Hull Companys record of transactions concerning part X for the month of April was as follows.
Purchases | Sales | ||||||||
April 1 | (balance on hand) | 230 | @ | $7.30 | April 5 | 430 | |||
4 | 530 | @ | 7.40 | 12 | 330 | ||||
11 | 430 | @ | 7.70 | 27 | 1,060 | ||||
18 | 330 | @ | 7.80 | 28 | 150 | ||||
26 | 730 | @ | 8.20 | ||||||
30 | 330 | @ | 8.50 |
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 0 decimal places, e.g. $6,548.)
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