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Some of the information found on a detail inventory card for Novak Inc. for the first month of operations is as follows. If the perpetual

Some of the information found on a detail inventory card for Novak Inc. for the first month of operations is as follows. 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)FIFO, (2)LIFO, and (3)Average Cost 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 0 decimal places, e.g. 6,548.)

Received

Date

No. of Units

Unit Cost

Issued, No. of Units

Balance, No. of Units

January 2 1,700 $5.19 1,700
7 1,200 500
10 1,100 5.54 1,600
13 1,000 600
18 1,500 5.71 800 1,300
20 1,100 200
23 1,800 5.88 2,000
26 1,300 700
28 2,100 6.06 2,800
31 1,800

1,000

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