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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.) Ending Inventory $ (1) FIFO $ (2) LIFO $ (3) Average-cost

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.) Ending Inventory $ (1) FIFO $ (2) LIFO $ (3) Average-cost

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Blossom Company's record of transactions concerning part X for the month of April was as follows. April 1 (balance on hand) 4 11 18 26 Purchases 30 420 @ $7.30 720 @ 7.40 620 520 920 @ 520 @ 7.70 7.80 8.20 8.50 Sales April 5 12 27 28 620 520 1,440 150
Transcribed Image Text:Blossom Company's record of transactions concerning part X for the month of April was as follows. April 1 (balance on hand) 4 11 18 26 Purchases 30 420 @ $7.30 720 @ 7.40 620 520 920 @ 520 @ 7.70 7.80 8.20 8.50 Sales April 5 12 27 28 620 520 1,440 150
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.) Ending Inventory eTextbook and Media (1) FIFO (2) LIFO LA (3) Average-cost
Transcribed Image Text: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.) Ending Inventory eTextbook and Media (1) FIFO (2) LIFO LA (3) Average-cost
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