Question
Windsor SAs record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 270 @
Windsor SAs record of transactions concerning part X for the month of April was as follows.
Purchases | Sales | ||||||||
---|---|---|---|---|---|---|---|---|---|
April 1 | (balance on hand) | 270 | @ | R$5.80 | April 5 | 470 | |||
4 | 570 | @ | 5.90 | 12 | 370 | ||||
11 | 470 | @ | 6.10 | 27 | 1,140 | ||||
18 | 370 | @ | 6.20 | 28 | 150 | ||||
26 | 770 | @ | 6.50 | ||||||
30 | 370 | @ | 6.70 |
Specific identification; ending inventory is comprised of 270 units from beginning inventory and 420 units from the April 26 purchase.
If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would be shown as ending inventory under: (1) Specific identification, (2) FIFO, and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to 2 decimal places, e.g. 6,548.25.)
(1) Specific identification | (2) FIFO | (3) Average-cost | ||||
---|---|---|---|---|---|---|
Ending Inventory | R$enter an amount in brazilian reals rounded to 2 decimal places | R$enter an amount in brazilian reals rounded to 2 decimal places | R$enter an amount in brazilian reals rounded to 2 decimal places |
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