Question
Wildhorse Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 91 units at a
Wildhorse Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 91 units at a cost of $6 per unit. During April, the following purchases and sales were made. Purchases April 7 71 units at $7.00- 13 142 units at $8.00 23 112 units at $9.00 29 51 units at $10.00 376 Sales April 5 142 units at $20 11 112 units at $20 20 102 units at $20 30 51 units at $20 407 Compute the April 30 ending inventory and April cost of goods sold under (a) average cost, (b) FIFO, and (c) LIFO. (Round cost per unit to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 1,525.)
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