Please do not give solution in image format thanku Vaughn Company's record of transactions concerning part X for the month of April was as follows.PurchasesApril 1 (balance on hand)411182630250 @ $5.605505.71450@5.94350 @ 5.99750 @6.27350 @6.50Average-cost per unit $SalesApril 51227284503501,100150Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimalplaces, e.g. 2.76.)!! Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in unitsonly. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round final answers to O decimal places, eg.$6,548.)Ending Inventory $eTextbook and MediaEnding Inventory $(1)FIFOeTexthook and MadinIf the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount wouldbe shown as ending inventory under (1) FIFO, (2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g2.7621 and final answers to 0 decimal places, e.g. 6,548)(1)FIFO(2)LIFO$$(2)LIFO(3)Average-cost(3)Average-cost

Solution A) : Date Units Rate Total Cost 01-Apr 250 5.6 1400 04-Apr 550 5.71 3140.5 11-Apr…

Answered: Vaughn Company's record of transactions…

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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