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Please help! Concord Company's record of transactions for the month of April was as follows. Purchases April 1 (balance on hand) 540 @ $6.00 4
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Concord Company's record of transactions for the month of April was as follows. Purchases April 1 (balance on hand) 540 @ $6.00 4 1,350 @ 6.08 8 720 @ 6.40 13 1,080 @ 6.50 21 630 @ 6.60 29 450 @ 6.79 4,770 Sales April 3 450 @ $10.00 9 1,260 @ 10.00 11 540 @ 11.00 23 1,080 @ 11.00 27 810 @ 12.00 4,140 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 x Inventory 4244 3823Step by Step Solution
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