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Some of the information found on a detail inventory card for Splish Inc. for the first month of operations is as follows. Received Date Issued,

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Some of the information found on a detail inventory card for Splish Inc. for the first month of operations is as follows. Received Date Issued, No. of Units No. of Units 1,600 Unit Cost $5.10 January 2 7 1,100 10 1,000 5.44 Balance, No. of Units 1,600 500 1,500 600 1,300 200 1,900 13 1,400 5.61 900 700 1,100 1.700 5.78 18 20 23 26 28 31 1.200 700 2.000 5.95 2.700 1,000 1,700 Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Average-cost per unit Calculate average cost per unit. (Round answer to 2 decimal places, eg.2.76.) Average-cost per unit $ e Textbook and Media From these data compute the ending inventory 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. (Round final answers to decimal places, eg. 6,548.) (1) FIFO (2) LIFO (3) Average cost Ending Inventory $ e Textbook and Media 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 declmal places, eg. 27621 and final answers to decimal places, eg. 6,548.) (2) LIFO (3) Average-cost FIFO Would amount be same Ending Inventory e Textbook and Media

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