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Q: Asian company record their transactions concerning part X for the month of March was as follows. Purchases Sales March 1 (balance on hand) 200@
Q: Asian company record their transactions concerning part X for the month of March was as follows.
Purchases | Sales | |||||
March | 1 (balance on hand) | 200@ | RBD6.00 | March | 6 | 400 |
| 5 | 500@ | 6.10 |
| 13 | 300 |
| 12 | 400@ | 6.30 |
| 28 | 900 |
| 19 | 300@ | 6.35 |
| 29 | 250 |
| 27 | 700@ | 6.60 |
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| 30 | 300@ | 6.80 |
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Instructions
- Compute the inventory at March 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (Carry unit costs to the nearest cent.)
- Specific identification; ending inventory is comprised of 200 units from beginning inventory and 350 units from the March 27 purchase.
- First-in, first-out (FIFO).
- Average-cost.
- If the perpetual inventory record is kept in Dinar, and costs are computed at the time of each withdrawal, what amount would be shown as ending inventory in 1, 2, and 3 above? (Carry average unit costs to four decimal places.)
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