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Sheffield Company's record of transactions for the month of April was as follows. April 1 (balance on hand) 4 (a1) 8 13 21 29 (a2) Average-cost per unit $ (b) Purchases Your answer is correct. eTextbook and Media FIFO ✓ Your answer is correct. Average-cost $ Your Answer Correct Answer eTextbook and Media e Textbook Solution 1,260 $6.00 3,150@ 6.08 1.680 @ 6.40 2.520 @ 6.50 11.130 Inventory at April 30 1,470 @ 1,050 @ eTextbook and Media Save for Later 8 Your answer is partially correct. Assuming that periodic inventory records are kept, calculate the average-cost per unit. (Round answer to 2 decimal places, eg. 2.76) 6.60 6.79 9902 9334 (1) FIFO April 3 9 Assuming that periodic inventory records are kept, compute the inventory at April 30 using (1) FIFO and (2) average-cost. (Round answer to 0 decimal places, e.g. 2,760) 11 23 9902 27 6.35 per unit Sales 1,050 $10.00 2,940 @ 10.00 11.00 1,260 @ $ 2,520 @ 1,890 @ 9,660 11.00 12.00 Assuming that perpetual inventory records are kept in both units and dollars, determine the inventory at April 30 using (1) FIFO and (2) average-cost. (Round average per unit cost to 4 decimal places eg. 2.7605 and final answer to 0 decimal places, eg. 2,760.) Attempts: 1 of 2 used (2) Average-Cost 9261 Assistance Used Attempts: 2 of 2 used Attempts: 1 of 2 used Submit Answer

Sheffield Company's record of transactions for the month of April was as follows. April 1 (balance on hand) 4 (a1) 8 13 21 29 (a2) Average-cost per unit $ (b) Purchases Your answer is correct. eTextbook and Media FIFO ✓ Your answer is correct. Average-cost $ Your Answer Correct Answer eTextbook and Media e Textbook Solution 1,260 $6.00 3,150@ 6.08 1.680 @ 6.40 2.520 @ 6.50 11.130 Inventory at April 30 1,470 @ 1,050 @ eTextbook and Media Save for Later 8 Your answer is partially correct. Assuming that periodic inventory records are kept, calculate the average-cost per unit. (Round answer to 2 decimal places, eg. 2.76) 6.60 6.79 9902 9334 (1) FIFO April 3 9 Assuming that periodic inventory records are kept, compute the inventory at April 30 using (1) FIFO and (2) average-cost. (Round answer to 0 decimal places, e.g. 2,760) 11 23 9902 27 6.35 per unit Sales 1,050 $10.00 2,940 @ 10.00 11.00 1,260 @ $ 2,520 @ 1,890 @ 9,660 11.00 12.00 Assuming that perpetual inventory records are kept in both units and dollars, determine the inventory at April 30 using (1) FIFO and (2) average-cost. (Round average per unit cost to 4 decimal places eg. 2.7605 and final answer to 0 decimal places, eg. 2,760.) Attempts: 1 of 2 used (2) Average-Cost 9261 Assistance Used Attempts: 2 of 2 used Attempts: 1 of 2 used Submit Answer

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...
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Sheffield Company's record of transactions for the month of April was as follows. April 1 (balance on hand) 4 (a1) 8 13 21 (a2) 29 Average-cost per unit $ (b) ✓ Your answer is correct. eTextbook and Media Your Answer Purchases FIFO ✓ Your answer is correct. Average-cost $ eTextbook eTextbook and Medial Solution Correct Answer 1,260 $6.00 3,150 @ 6.08 1,680 @ 6.40 2,520 @ 1,470 @ 6.60 11.130 Inventory at April 30 Save for Later 1,050@ 6.79 Assuming that periodic inventory records are kept, calculate the average-cost per unit. (Round answer to 2 decimal places, eg. 2.76.) H Your answer is partially correct. $ eTextbook and Media 6.50 9902 9334 April 3 9 11 (1) FIFO 23 Assuming that periodic inventory records are kept, compute the inventory at April 30 using (1) FIFO and (2) average-cost. (Round answer to O decimal places, e.g. 2,760.) 27 6.35 per unit 9902 Sales 1,050 $10.00 2,940 @ 1,260 @ $ 2,520 @ 1,890 @ | | 9.660 10.00 11.00 11.00 Assuming that perpetual inventory records are kept in both units and dollars, determine the inventory at April 30 using (1) FIFO and (2) average-cost. (Round average per unit cost to 4 decimal places e.g. 2.7605 and final answer to 0 decimal places, e.g. 2,760.) 12.00 Attempts: 1 of 2 used (2) Average-Cost 9261 Assistance Used Attempts: 2 of 2 used Attempts: 1 of 2 used Submit Answer
Transcribed Image Text:Sheffield Company's record of transactions for the month of April was as follows. April 1 (balance on hand) 4 (a1) 8 13 21 (a2) 29 Average-cost per unit $ (b) ✓ Your answer is correct. eTextbook and Media Your Answer Purchases FIFO ✓ Your answer is correct. Average-cost $ eTextbook eTextbook and Medial Solution Correct Answer 1,260 $6.00 3,150 @ 6.08 1,680 @ 6.40 2,520 @ 1,470 @ 6.60 11.130 Inventory at April 30 Save for Later 1,050@ 6.79 Assuming that periodic inventory records are kept, calculate the average-cost per unit. (Round answer to 2 decimal places, eg. 2.76.) H Your answer is partially correct. $ eTextbook and Media 6.50 9902 9334 April 3 9 11 (1) FIFO 23 Assuming that periodic inventory records are kept, compute the inventory at April 30 using (1) FIFO and (2) average-cost. (Round answer to O decimal places, e.g. 2,760.) 27 6.35 per unit 9902 Sales 1,050 $10.00 2,940 @ 1,260 @ $ 2,520 @ 1,890 @ | | 9.660 10.00 11.00 11.00 Assuming that perpetual inventory records are kept in both units and dollars, determine the inventory at April 30 using (1) FIFO and (2) average-cost. (Round average per unit cost to 4 decimal places e.g. 2.7605 and final answer to 0 decimal places, e.g. 2,760.) 12.00 Attempts: 1 of 2 used (2) Average-Cost 9261 Assistance Used Attempts: 2 of 2 used Attempts: 1 of 2 used Submit Answer
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