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The following purchases and sales for Ripple Company are for April 2019. There was no inventory on April 1 Sales Purchases Units Unit Cost Unit
The following purchases and sales for Ripple Company are for April 2019. There was no inventory on April 1 Sales Purchases Units Unit Cost Unit 1,500 April 6 $33.00 6,000 April 3 1,400 April 12 34.00 1,600 April 10 2,300 April 25 35.00 April 22 2,000 36.00 April 28 1,800 a. Compute the ending inventory as of April 30, 2019, using the perpetual inventory procedure, under each of the following methods: (1) FIFO, (2) LIFO, and (3) weighted- average (carry unit cost to four decimal places, and round total cost to nearest dollar). b. Repeat part a using the periodic inventory procedure. Schedules of Inventory Valuations (a1) FIFO Perpetual Purchased Sold Balance Unit Total Total Unit Total Unit Date Units Cost Cost Units Cost Cost Units Cost Cost (a2) LIFO Perpetual Purchased Sold Balance Unit Total Unit Total Unit Total Date Units Cost Cost Units Cost Units Cost Cost Cost (a3) 1 Weighted Average Perpetual (Moving Average Balance Sold Purchased Total Unit 4 Total Unit Total Unit Cost Cost Units Units Units Cost Cost Date Cost Cost 2 4 5 6 (b1) 9FIFO Periodic Total Unit Units Cost Cost Date 0 (b2) 1 LIFO Periodic 2 Unit Total Units Date Cost Cost 4 5 6 7 01 22 (3) 03 Weighted Average--Periodic 04 05 06 07 Unit Total Units Date Cost Cost 08 9 10 1 2 13 4 5
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