am. 112. Your answer is incorrect.Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept inunits only (1) First-in, first-out (FIFO), (2) Last-in, first-out (LIFO) (3) Average-cost. (Round average cost per unit to 2 decimal places,eg.2.76 and final answers to 0 decimal places, eg. 6,548)Ending inventory(1)FIFO(2)LIFO(3)Average-cost Concord Company's, record of transactions concerning part WA6 for the month of September was as follows:PurchasesSeptember 1 (balance on hand)312162226Sales300 @ $11.40 September 4200 @11.5017300 @300 @500 @300 @11.6511.7011.7011.804006003002730 200

Ending inventory is the amount of inventory that an entity has on hand, at the end of the period. It…

Concord Company's record of transactions concerning part WA6 for the month of September was as follows: September 1 (balance on hand) 3 12 16 22 Purchases 26 300 200 @ 300 @ $11.40 11.50 11.65 300 @ 11.70 500 @ 11.70 300 @ 11.80 Sales September 4 17 27 30 400 600 300 200

Concord Company's record of transactions concerning part WA6 for the month of September was as follows: September 1 (balance on hand) 3 12 16 22 Purchases 26 300 200 @ 300 @ $11.40 11.50 11.65 300 @ 11.70 500 @ 11.70 300 @ 11.80 Sales September 4 17 27 30 400 600 300 200

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Chapter1: Financial Statements And Business Decisions

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Question

am. 112.

Your answer is incorrect.
Compute the inventory at September 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 average cost per unit to 2 decimal places,
eg.2.76 and final answers to 0 decimal places, eg. 6,548)
Ending inventory
(1)
FIFO
(2)
LIFO
(3)
Average-cost

Concord Company's, record of transactions concerning part WA6 for the month of September was as follows:
Purchases
September 1 (balance on hand)
3
12
16
22
26
Sales
300 @ $11.40 September 4
200 @
11.50
17
300 @
300 @
500 @
300 @
11.65
11.70
11.70
11.80
400
600
300
27
30 200

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