Problem 8-5 (Part Level Submission) Some of the information found on a detail inventory card for Sunland Inc. for the first month of operations is as follows. Received Issued, No. of Units Date January 2 7 No. of Units 1,600 Unit Cost $4.20 1,100 10 1,000 4.48 13 900 Balance, No. of Units 1,600 500 1,500 600 1,300 200 1,900 700 2,700 1,000 18 1,400 4.62 700 1,100 20 1,700 4.76 23 26 1,200 28 2,000 4.90 31 1,700 (al) Your answer is correct. Calculate average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Average-cost per unit 4.62 (a2) Your answer is correct. From these data compute the ending inventory on each of the following bases. Assume that perpetual inventory records are kept in units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round final answers to 0 decimal places, e.g. 6,548.) (1) FIFO (2) LIFO (3) Average-cost Ending Inventory 4900 4200 4620 v (b) Your answer is partially correct. Try again. If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, would the amounts shown as ending inventory in (1), (2), and (3) above be the same? What amount would be shown as ending inventory? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to O decimal places, e.g. 6,548.) (1) FIFO (2) LIFO (3) Average-cost Would amount be same Yes Nov No Ending Inventory 4900 5236 4860