Stellar Company's record of transactions for the month of April was as follows.

Purchases

Sales

April 1(balance on h..2@$5.00April 3..0@$10.0041,530@5..8@10.008816@5..2@11.00131,224@5..4@11.0021714@5..8@12.0029510@5.994,6925,406

Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit.(Round answer to 2 decimal places, e.g. 2.76.)

Average-cost per unit$

per unit

Assuming that periodic inventory records are kept in units only, compute the inventory at April 30 using LIFO and average-cost.(Round answer to 0 decimal places, e.g. 2,760.)

LIFO$

Average-cost$

Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO.(Round answer to 0 decimal places, e.g. 2,760.)

(1)

FIFO

(2)

LIFO

Inventory$

$

Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO.(Round answer to 0 decimal places, e.g. 2,760.)

Cost of goods sold$

In an inflationary period, which inventory method-FIFO, LIFO, average-cost-will show the highest net income?

LIFO

Average-cost

FIFO

inventory method will show the highest net income.