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.lackson Comnanv Pirchases-May Part 1: Compute the inventory at May 31 on each of the following bases. Assume that perpetual inventory records are kept in

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image text in transcribed .lackson Comnanv Pirchases-May Part 1: Compute the inventory at May 31 on each of the following bases. Assume that perpetual inventory records are kept in units only. Carry unit costs to the nearest cent. 1. First-in, first-out 2. Last-in, first 3. Average cost (i.e., weighted average Assume costs are not computed for each withdrawal: \begin{tabular}{|l|l|l|l|l|l|} \hline Last-in, first-out & & & & \\ \hline Date of Invoice & \multicolumn{1}{|c|}{ No. Units } & Unit Cost & Total Cost \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} Part 2 Instructions: Use the information below to answer the questions. 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 in (1), (2), and (3) above? (Carry average unit costs to four decimal places.) Assume costs are computed for each withdrawal. Inventory, May 31= 172 Part 3 Instructions: Create an example note to the financial statement disclosing one of the inventory valuation methods listed in the problem in the space below. \begin{tabular}{l} 173 \\ \hline 174 \\ 175 \\ 176 \\ 177 \\ 178 \\ 179 \\ 180 \\ 181 \\ 182 \\ \hline 183 \\ \hline 184 \end{tabular}

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