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Some of the information found on a detail inventory card for Sheridan Inc. for the first month of operations is as follows. Received Date No.
Some of the information found on a detail inventory card for Sheridan Inc. for the first month of operations is as follows. Received Date No. of Units Unit Cost Issued, No. of Units Balance, No. of Units January 2 1,400 $3.57 1,400 7 900 500 22222222 10 800 3.81 1,300 13 700 600 18 1,200 3.93 500 1,300 20 1,100 200 23 1,500 4.05 1,700 26 1,000 700 28 1,800 4.17 2,500 31 1,500 1,000 (b) - Your answer is partially correct. 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 O decimal places, e.g. 6,548.) (1) FIFO (2) LIFO (3) Average-cost Would amount be same Ending Inventory eTextbook and Media eTextbook Save for Later $ Yes 4170 $ No 3990 $ No 4030 Assistance Used Attempts: 1 of 4 used Submit
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