Question
Question: Adams Bruce Company record of transactions for the month of May was follows. Purchases. May 1 balance on hand 6..0@$6. May 4. 1..0@6.08 .
Question:Adams Bruce Company record of transactions for the month of May was follows. Purchases. May 1 balance on hand 6..0@$6. May 4. 1..0@6.08 . May 8. 8..0@6.4. May 13. 1..0@6.5. May 21. 700@ 6.6. May 29 . 5..0@6.79. Sales. May 3 ...0@10. April 9. 1..0@10. May 11. 6..0@11. May 23. 1200@11 . May 27. 900@12 1. The periodic inventory records are kept in units only compute the inventory at may 30 using LIFO and average cost.? 2 .The perpetual inventory records are kept in dollars find the inventory using 1 FIFO and 2 LIFO? Please can show the calculation for question and two separately?
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
