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Oriole Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory on December 10, 2016, at a

Oriole Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory on December 10, 2016, at a cost of $22per unit. None of this inventory was sold in 2016. Relevant information is as follows.

Ending inventory units

December 31, 2016 125

December 31, 2017, by purchase date

December 2, 2017 125

July 20, 2017 50 175

During the year 2017, the following purchases and sales were made.

Purchases Sales

March 15 325 units at $26 April 10 225

July 20 325 units at 27 August 20 325

September 4 225 units at 30 November 18 175

December 2 125 units at 32 December 12 225

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

Answer = $27.31 Correct

Your answer is partially correct.Try again.

Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost.(Round answers to 0 decimal places, e.g. 2,760.)

Specific Identification ?

FIFO= $5500 Correct

LIFO= $4050 Correct

Average-Cost ?

Your answer is incorrect.Try again.

Calculate price index.(Round answer to 4 decimal places, e.g. 2.7653.) ?

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Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2017, purchase cost is the current cost of inventory. (Hint:The beginning inventory is the base layer priced at $22per unit.)(Round answer to 0 decimal places, e.g. 2,760.)

?

So need the help in finding the Specific Identification, Average-cost, Price Index, and ending inventory at dollar-value LIFO. Thank you

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