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ohn Adams Companys record of transactions for the month of April was as follows. Calculate average-cost per unit. (Round answer to 2 decimal places, e.g.

ohn Adams Companys record of transactions for the month of April was as follows.

Calculate average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.)

Average-cost per unit

$

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Assuming that periodic inventory records are kept in units only, compute the inventory at April 30 using LIFO and average-cost. (Round answer to 0 decimal places, e.g. 2,760.)

LIFO

$

Average-cost

$

Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO. (Round answer to 0 decimal places, e.g. 2,760.)

(1) FIFO (2) LIFO
Inventory

$

$

Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO. (Round answer to 0 decimal places, e.g. 2,760.)

Cost of goods sold

$

Purchases Sales
April 1 (balance on hand) 600 @ $ 6.00 April 3 500 @ $10.00
4 1,500 @ 6.08 9 1,400 @ 10.00
8 800 @ 6.40 11 600 @ 11.00
13 1,200 @ 6.50 23 1,200 @ 11.00
21 700 @ 6.60 27 900 @ 12.00
29 500 @ 6.79 4,600
5,300

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