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Nash Companys record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 210 @
Nash Companys record of transactions concerning part X for the month of April was as follows.
Purchases | Sales | ||||||||
---|---|---|---|---|---|---|---|---|---|
April 1 | (balance on hand) | 210 | @ | $5.20 | April 5 | 410 | |||
4 | 510 | @ | 5.30 | 12 | 310 | ||||
11 | 410 | @ | 5.50 | 27 | 1,020 | ||||
18 | 310 | @ | 5.60 | 28 | 150 | ||||
26 | 710 | @ | 5.80 | ||||||
30 | 310 | @ | 6.00 |
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.)
(1) FIFO | (2) LIFO | (3) Average-cost | ||||
Ending inventory | $enter a dollar amount rounded to 0 decimal places | $enter a dollar amount rounded to 0 decimal places | $enter a dollar amount rounded to 0 decimal places |
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