Tamarisk 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 Your answer is incorrect. Average-cost per unit $ * Your answer is incorrect. Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 4 decimal places, e.g. 2.7682.) 350 @ $6.60 6.70 650 @ 550 @ 7.00 450 @ 7.10 850 @ 7.40 450 @ 7.70 O Show Transcribed Text Ending Inventory $ eTextbook and Media * Your answer is incorrect. 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 O decimal places, e.g. 6,548.) Ending Inventory $ I (1) FIFO April 5 12 27 28 (1) FIFO Sales $ 550 450 1,300 150 $ (2) LIFO 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) FIFO, (2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to O decimal places, e.g. 6,548.) $ (2) LIFO (3) Average-cost $ (3) Average-cost
Tamarisk 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 Your answer is incorrect. Average-cost per unit $ * Your answer is incorrect. Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 4 decimal places, e.g. 2.7682.) 350 @ $6.60 6.70 650 @ 550 @ 7.00 450 @ 7.10 850 @ 7.40 450 @ 7.70 O Show Transcribed Text Ending Inventory $ eTextbook and Media * Your answer is incorrect. 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 O decimal places, e.g. 6,548.) Ending Inventory $ I (1) FIFO April 5 12 27 28 (1) FIFO Sales $ 550 450 1,300 150 $ (2) LIFO 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) FIFO, (2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to O decimal places, e.g. 6,548.) $ (2) LIFO (3) Average-cost $ (3) Average-cost
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 50E: Inventory Costing Methods Crandall Distributors uses a perpetual inventory system and has the...
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Transcribed Image Text:Tamarisk 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
Your answer is incorrect.
Average-cost per unit $
* Your answer is incorrect.
Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 4 decimal
places, e.g. 2.7682.)
Show Transcribed Text
350
$6.60
6.70
650 @
550 @ 7.00
450 @
7.10
850 @
7.40
450 @ 7.70
Ending Inventory $
eTextbook and Media
* Your answer is incorrect.
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 O decimal places, e.g. 6,548.)
Ending Inventory $
(1)
FIFO
April 5
12
27
28
G
(1)
FIFO
Sales
$
550
450
1,300
150
$
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) FIFO, (2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g.
2.7621 and final answers to O decimal places, e.g. 6,548.)
(2)
LIFO
(2)
LIFO
(3)
Average-cost
$
(3)
Average-cost
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