*Problem 8-5 Some of the information found on a detail inventory card for Concord Inc. for the operations is as follows Received tssued, No. of Units No. of Units 1,700 1,100 1,500 1,800 2,100 Date January 2 Unit Cost No. of Units $5.19 1,700 1,200 10 13 5.54 ,600 5.71 1,100 200 2,000 700 5.88 1,300 2,800 31 1,800 Your answer is correct. Calculate average-cost per unit. (Round answer to 2 decimal places, e.9. 2.76 Average-cost per unit $573 3 Your answer is incorrect. Try again. 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 Inventory 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 0 decimal places, e.g.6,548. FIFO LIFO Average-cost Would amount be sameYes Page Problem 8-5 Ending Inventory Question Attempts: Unli 2000-2017 by Jonn Wley&Sons, inc or related companies All rights reserved