Sunland Company's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 4 11 18 26 30 320 @ $6.30 620 Ⓒ 6.40 6.70 520 @ 420 @ 6.70 820 @ 7.10 420 @ 7.30 Ending Inventory s 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.) Average-cost per unit s April 5 12 27 28 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, e.g. 6,548.) FIFO 520 420 1,240 150 $ (2) LIFO $ (3) Average-cost

Sunland Company's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 4 11 18 26 30 320 @ $6.30 620 Ⓒ 6.40 6.70 520 @ 420 @ 6.70 820 @ 7.10 420 @ 7.30 Ending Inventory s 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.) Average-cost per unit s April 5 12 27 28 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, e.g. 6,548.) FIFO 520 420 1,240 150 $ (2) LIFO $ (3) Average-cost

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Inventories

Section: Chapter Questions

Problem 6.2BPR: LIFO perpetual inventory The beginning inventory for Dunne Co. and data on purchases and sales for a...

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