Problem 8-5 Some of the information found on a detail inventory card for Skysong Inc. for the first month of operations is as follows Received Issued, No. of Units Balance, Date No. of Units Unit Cost No. of Units 1,600 500 1,500 600 1,300 200 1,900 700 2,700 1,000 January 2 1,600 $3.75 1,100 4.00 10 13 18 20 23 26 28 31 1,000 900 700 1,100 1,400 4.13 1,700 4.25 1,200 2,000 4.38 1,700 Calculate average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Average-cost per unit 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.) FIFO LIFO Average-cost Ending Inventorys LINK TO TEXT LINK TO TEXT 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 0 decimal places, e.g. 6,548.) FIFO LIFO Average-cost Would amount be same Ending Inventory