Purchases: Sales

April 1 (balance on hand) 290 @ $6.00 April 5 490

4 590 @ $6.10 12 390

11 490 @ $6.40 27 390

18 390 @ $6.40 28 1180

26 790 @ $6.70

30 390 @ $7.00

I calculated the average-cost per unit and it is $6.4605

Compute the inventory at April 30 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.

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 (1) FIFO, (2) LIFO and (3) Average-cost?

Please show me the steps not just answers. I want to understand how and why.