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Some of the information found on a detail inventory card for Coronado Inc. for the first month of operations is as follows. Received Date No.

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Some of the information found on a detail inventory card for Coronado Inc. for the first month of operations is as follows. Received Date No. of Units Issued, No. of Units Unit Cost $4.02 Balance, No. of Units 1,400 500 January 2 1,400 7 900 10 800 4.29 1,300 13 700 600 18 1,200 4.42 500 1,300 20 1.100 200 23 1.500 4.56 1.700 700 26 1,000 28 1,800 4.69 2,500 31 1,500 1,000 * Your answer is incorrect Calculate average-cost per unit. (Round answer to 2 decimal places, eg 276) . Average-cost per unit 4.39 Your Answer Correct Answer Your answer is incorrect. 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, es 6,548.) (1) FIFO (2) LIFO (3) Average-cost Ending Inventory 4599 $ 25288 4690 Your Answer Correct Answer * Your answer is incorrect 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, eg 27621 and final answers to decimal places, es 6,548.) (1) FIFO (2) LIFO (3) Average-cost Would amount be same Ending Inventory

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