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.)

Solutions

Expert Solution

ekkarill92 answered 5 months ago

Next > < Previous

Related Solutions

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 Quantity: Unit Cost: Quantity: Quantity: Apr 5 290 Apr 12 200 Apr 27 800 Apr 28 200 Apr 1 (Balance on hand) 110 $6.00 Apr 5 290 Apr 4 420 6.20 Apr 12 200 Apr 11 280 6.30 Apr 27 800 Apr 18 210 6.40 Apr 28 200 Apr 26 500 6.50 Apr 30 260 6.70 Instructions: (a) Compute the inventory at...

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

Jalloh Company’s record of transactions concerning part X for the month of April was as follows. Purchases sales Purchases April 1 (balance on hand) 350 @ $6.60 April 5 550 April 4 650 @ 6.73 April 12 450 April 11 550 @ 7.00 April 27 1,300 April18 450 @ 7.06 April 28 150 April 26 850 @ 7.39 April 30 450 @ 7.66 Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory...

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

Coronado Company’s record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 310 @ $6.20 April 5 510 4 610 @ 6.30 12 410 11 510 @ 6.60 27 1,220 18 410 @ 6.60 28 150 26 810 @ 6.90 30 410 @ 7.20 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 $ LINK...

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

Blossom Company’s record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 420 @ $7.30 April 5 620 4 720 @ 7.40 12 520 11 620 @ 7.70 27 1,440 18 520 @ 7.80 28 150 26 920 @ 8.20 30 520 @ 8.50 A)Calculate average-cost per unit. B)Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (1)...

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

Cullumber Company’s record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 290 @ $6.00 April 5 490 4 590 @ 6.12 12 390 11 490 @ 6.36 27 1,180 18 390 @ 6.42 28 150 26 790 @ 6.72 30 390 @ 6.96 Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal places, e.g. 2.76.) Average-cost per unit...

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

Sheridan Company’s record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 260 @ $5.70 April 5 460 4 560 @ 5.80 12 360 11 460 @ 6.00 27 1,120 18 360 @ 6.10 28 150 26 760 @ 6.40 30 360 @ 6.60 (a) Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. Carry unit costs to...

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

Skysong Company’s record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 250 @ $5.60 April 5 450 4 550 @ 5.70 12 350 11 450 @ 5.90 27 1,100 18 350 @ 6.00 28 150 26 750 @ 6.30 30 350 @ 6.50 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 $ Compute...

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

Oriole Company’s record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 390 @ $7.00 April 5 590 4 690 @ 7.10 12 490 11 590 @ 7.40 27 1,380 18 490 @ 7.50 28 150 26 890 @ 7.80 30 490 @ 8.10 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 $ eTextbook...

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

Sarasota Company’s record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 350 @ $6.60 April 5 550 4 650 @ 6.73 12 450 11 550 @ 7.00 27 1,300 18 450 @ 7.06 28 150 26 850 @ 7.39 30 450 @ 7.66Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. Compute the inventory at April 30 on each of the following bases....

Jefferson Company's record of transactions concerning part x for the month of April was as follows...

Jefferson Company's record of transactions concerning part x for the month of April was as follows Purchases Sales April 1 390 @ $7.00 April 5 590 4 690 @ 7.1 12 490 11 590 @ 7.4 27 1,380 18 490 @ 7.5 28 150 26 890 @ 7.8 30 490 @ 8.1 a, Calculate average- cost per unit. Assume that perpetual inventory records are kept in units only average cost per unit - b, compute the inventory at April 30 on each...

Subjects