Answered step by step
Verified Expert Solution
Question
1 Approved Answer
record transactions, calculate average cost per unit * Question 1 Windsor Company's record of transactions concerning part X for the month of April was as
record transactions, calculate average cost per unit
* Question 1 Windsor Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 370 Sales 4 11 18 26 30 670 570 470 870 470 $6.80 6.94 7.21 7.28 7.62 7.89 April 5 12 27 28 570 470 1,340 150 Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal places, e.g. 2.76.) Average-cost per unit 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 (I-IFO). (3) Average-cost. (Round final answers to O decimal places, erg, $6,548,) (1) FIFO Ending Inventory $ (2) 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? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to O decimal places, e.g. 6,548.) (1) FIFO Ending Inventory (2) LIFO (3) Average-cost Question Attempts: O of 3 used
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started