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I have also tried $7.11 and $7.12 for the average cost per unit and both were wrong. Tamarisk Company's record of transactions concerning part X
I have also tried $7.11 and $7.12 for the average cost per unit and both were wrong.
Tamarisk Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 4 @ 350 650 550 450 850 450 Sales April 5 550 12 450 27 1,300 28 150 11 18 $6.60 6.70 7.00 7.10 7.40 7.70 26 30 X Your answer is incorrect. Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 4 decimal places, e.g. 2.7682.) Average-cost per unit $ 7.10 X Your answer is incorrect. 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 decimal places, eg: 6,548.) (1) FIFO (2) LIFO (3) Average-cost Ending Inventory $ 23465 $ 23465 A 23465 e Textbook and Media * Your answer is incorrect. 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, eg. 2.7621 and final answers to decimal places, eg. 6,548.) (1) FIFO (2) LIFO (3) Average-cost Ending Inventory $ 17040 $ 17355 $ 17139Step by Step Solution
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