me various items would be shown in the financial statements, c. Which of the two methods do you prefer and why? P8.4 (LO 3) Excel actions concerning part X for the month of April was as follows. (Compute FIFO, LIFO, and Average-Cost) Hull Company's record of trans- Purchases April 1 (balance on hand) 4 11 18 26 30 100 @ $5.00 400 @ 5.10 300 @ 5.30 200 @ 5.35 600 @ 5.60 200 @ 5.80 Sales April 5 12 27 28 300 200 800 150 Instructions a. Compute the inventory at April 30 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 (FIFO). 2. Last-in, first-out (LIFO). 3. Average-cost