If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would beshown 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 0 decimal places, e.g. 6,548.)Ending Inventory $(1)FIFOS(2)LIFO$(3)Average-cost

Ending inventory refers to the sum value of goods or products remaining at a company after making…

Answered: final answers to O decimal places, e.g.…

Business

Accounting

final answers to O decimal places, e.g. 6,548.) wentory $ (1) FIFO $ (2) LIFO S (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 23DQ: ( Appendix 6B) For each inventory costing method, perpetual and periodic systems yield the same...

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Question

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 0 decimal places, e.g. 6,548.)
Ending Inventory $
(1)
FIFO
S
(2)
LIFO
$
(3)
Average-cost

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