Oriole Company's record of transactions concerning part WA6 for the month of September was as f s as follows. Purchases September 1 (balance on hand) 3 (a1) 12 16 22 26 300 @ $13.00 200 @ 13.10 Average-cost per unit 300 @ 300 @ 500 @ 300 @ 13.40 13.25 13.30 13.30 Sales September 4 17 27 30 400 600 300 200 Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal pla e.g.2.76.)
Oriole Company's record of transactions concerning part WA6 for the month of September was as f s as follows. Purchases September 1 (balance on hand) 3 (a1) 12 16 22 26 300 @ $13.00 200 @ 13.10 Average-cost per unit 300 @ 300 @ 500 @ 300 @ 13.40 13.25 13.30 13.30 Sales September 4 17 27 30 400 600 300 200 Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal pla e.g.2.76.)
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter16: Financial Statements And Closing Entries For A Corporation
Section: Chapter Questions
Problem 1AP
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Transcribed Image Text:Oriole Company's record of transactions concerning part WA6 for the month of September was as follows.
Purchases
September 1 (balance on hand)
3
(a1)
نا
12
292 2
16
300
200 @
300 @
300 @
500 @
300
@ $13.00
Average-cost per unit $
@
13.10
13.25
13.30
13.30
13.40
Sales
September 4
17
27
30
400
600
300
200
Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal places,
eg. 2.76.)
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Transcribed Image Text:Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept in
units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round average cost per unit to 2 decimal places,
e.g. 2.76 and final answers to O decimal places, e.g. 6,548.)
Ending Inventory $
(1)
FIFO
(2)
LIFO
$
(3)
Average-cost
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