Please do not give solution in image format thanku (a2)Compute the inventory at April 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 final answers to 0 decimal places, eg. 6,548.)Ending inventory(1)FIFO(2)LIFO(3)Average-cost Concord Company's record of transactions concerning part X for the month of April was as follows.PurchasesApril 1 (balance on hand)(a1)411182630240 @ $5.50540 @5.60440 @5.80340 @ 5.90740 @ 6.20340 @ 6.40SalesWeighted average cost per unitApril 511227284403401,080150Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7682.)

Inventory can be valued using various methods -First-in First-Out Method - Under the First-in…

Concord Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 4 11 18 26 30 240 540 @ $5.50 5.60 440 @ 5.80 340 @ 5.90 740 @ 6.20 340 @ 6.40 Sales April 5 12 440 28 340 27 1,080 150

Concord Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 4 11 18 26 30 240 540 @ $5.50 5.60 440 @ 5.80 340 @ 5.90 740 @ 6.20 340 @ 6.40 Sales April 5 12 440 28 340 27 1,080 150

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 6EA: Akira Company had the following transactions for the month. Calculate the gross margin for the...

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Question

Please do not give solution in image format thanku

(a2)
Compute the inventory at April 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 final answers to 0 decimal places, eg. 6,548.)
Ending inventory
(1)
FIFO
(2)
LIFO
(3)
Average-cost

Concord Company's record of transactions concerning part X for the month of April was as follows.
Purchases
April 1 (balance on hand)
(a1)
4
11
18
26
30
240 @ $5.50
540 @
5.60
440 @
5.80
340 @ 5.90
740 @ 6.20
340 @ 6.40
Sales
Weighted average cost per unit
April 51
12
27
28
440
340
1,080
150
Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7682.)

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