Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help with (B) part Show Attempt History Current Attempt in Progress Blue SA's record of transactions concerning part X for the month of April

image text in transcribed

Need help with (B) part

Show Attempt History Current Attempt in Progress Blue SA's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 1 ) 410 @ R$ 7.20 April 5 610 4 710 @ 7.30 12 510 11 610 @ @ 7.60 27 1,420 18 510 @ @ 7.70 28 150 26 910 @ 8.10 30 510 8.40 (21) Your answer is correct. Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 4 decimal places, eg. 2.7682.) Average-cost per unit R$ 7.7467 e Textbook and Media Attempts: 1 of 2 used : (a2) Your answer is correct. Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (Round final answers to decimal places, eg: 6,548.) O , . (1) Specific identification; ending inventory is comprised of 410 units from beginning inventory and 560 units from the April 26 purchase. First-in, first-out (FIFO). Average-cost. - (2) (3) 3 (1) ( Specific identification (2) FIFO (3) Average-cost Ending Inventory R$ 7488 $ R$ 8010 R$ 7514 e e Textbook and Media Attempts: 1 of 2 used : 2 (b) 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) Specific identification (2) FIFO, and (3) Average-cost? (Round average cost per unit to 4 decimal places, eg. 2.7621 and final answers to 2 decimal places, eg. 6,548.25.) (1) Specific identification (2) FIFO (3) Average-cost Ending Inventory R$ R$ R$

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Comparative international accounting

Authors: Christopher nobes, Robert parker

9th Edition

273703579, 978-0273703570

More Books

Students also viewed these Accounting questions

Question

How Are Corrective Action Steps Taken to Correct for Noncompliance?

Answered: 1 week ago

Question

What have been misses?

Answered: 1 week ago