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Problem # 3: (27 points) Canales Corporation's record of transactions for the month of April was as follows. Date Transactions Units Purchased 600 Cost/ Unit

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Problem # 3: (27 points) Canales Corporation's record of transactions for the month of April was as follows. Date Transactions Units Purchased 600 Cost/ Unit $6.00 Units Sold Sales Price/Unit 500 $10.00 1,500 800 $6.08 $6.40 April 1 April 3 April 4 April 8 April 9 April 11 April 13 April 21 April 23 April 27 April 29 1,400 600 10.00 11.00 (beginning balance) Sales Purchase Purchase Sales Sales Purchase Purchase Sales Sales Purchase Totals 1,200 700 $6.50 $6.60 1,200 900 11.00 12.00 $6.79 500 5,300 4,600 Required (show all your calculations): Prepare schedules to compute the ending inventory and cost of goods sold at April 30, under each of the following inventory methods. a. FIFO b. LIFO. C. Weighted-average (round unit costs to two decimal places)

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