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Tamarisk Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a
Tamarisk Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $24 per unit. None of this inventory was sold in 2019. Relevant information is as follows. Ending Inventory units December 31, 2019 December 31, 2020, by purchase date December 2, 2020 1851 July 20, 2020 185 50 235 During the year 2020, the following purchases and sales were made. Purchases Sales March 15 385 units at $29 April 10 285 July 201 385 units at 30 August 201 385 September 4 285 units at 34 November 18 235 December 2 185 units at 36 December 12 285 Your answer is correct. Calculate average-cost per unit. (Round answer to 2 decimal places, e.e. 2.76) Average cost $ eTextbook and Media (a2) 30.53 Attempts: 1 of 4 used Your answer is correct. Determine ending inventory under (1) specific identification (2) FIFO (3) LIFO, and (4) average-cost. (Round answers to O decimal places, eg 2.760) Specific Identification FIFO LIFO Average Cust (a2) Your answer is correct. Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost. (Round answers to O decimal places, eg 2,760) Specific Identification (b1) 8160 eTextbook and Media FIFO 8340 Your awwer is correct Calculate price index (ound answer to 4 decimal places, 2.7653) Price Index LANZ LIFO 5890 Average-Cost 7574 Attempts: 2 of 4 used (b1) Your answer is correct. Calculate price Index. (Round answer to 4 decimal places, eg. 2.7653) Price Index eTextbook and Media (b2) 1.4823 Attempts: 1 of 4 used X Your answer is incorrect Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2020, purchase cost is the current cost of Inventory, (Hint: The beginning inventory is the base layer priced at $24 per unit.) (Round answer to O decimal places, eg. 2,760) (b2) X Your answer is incorrect. Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2020, purchase cost is the current cost of inventory. (Hint: The beginning inventory is the base layer priced at $24 per unit) (Round answer to O decimal places, eg 2.760) Ending Inventory at dollar-value LIFO $ 1852.88 eTextbook and Media Save for Later Attempts: 3 of 4 used Submit
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