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In: Accounting

Hull Company’s record of transactions concerning part X for the month of April was as follows....

Hull Company’s record of transactions concerning part X for the month of April was as follows.

Purchases

Sales
April 1 (balance on hand) 230 @ $7.30 April 5 430
4 530 @ 7.40 12 330
11 430 @ 7.70 27 1,060
18 330 @ 7.80 28 150
26 730 @ 8.20
30 330 @ 8.50

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.)

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Expert Solution

ekkarill92 answered 1 year ago
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