Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please I need more explanation to better understand. Especially for the fact that these calculations ask a lot. For example, if a number that wasn't
Please I need more explanation to better understand. Especially for the fact that these calculations ask a lot. For example, if a number that wasn't in the information at the beginning pops up I need to understand how we got the number. It makes me understand better and be sure to be able to do this kind of assignments without help next time.
Novak Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 4 440 a Sales April 5 12 $7.50 7.70 640 740 @ 540 11 640 8.00 27 1.480 540 a 8.00 28 150 18 26 940 @ 8.40 8.70 30 540 Calculate average cost per unit Assume that perpetual inventory records are kept in units only (Round answer to 4 decimal places.es 2.7682) 5 B0813 Average-cost per unit Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (i) First in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average cost. (Round final answers to 0 decimal places, eg. 6,548) (1) FIFO (2) LIFO (3) Average-cost 7.843 $ 8324 $ $ 8,814 Ending Inventory (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 (FIFO. 2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, es 2.7621 and final answers to decimal places. g. 6,548.) (11 FIFO 121 LIFO (3) Average-cost Ending InventoryStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started