Please do not give solution in image format thanku (a2)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, eg. 6,548.)Ending inventory(1)FIFO(2)LIFO(3)Average-cost Concord Company's record of transactions concerning part X for the month of April was as follows.PurchasesApril 1 (balance on hand)(a1)411182630240 @ $5.50540 @5.60440 @5.80340 @ 5.90740 @ 6.20340 @ 6.40SalesWeighted average cost per unitApril 511227284403401,080150Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7682.)

Inventory can be valued using various methods -First-in First-Out Method - Under the First-in…

Concord Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 4 11 18 26 30 240 540 @ $5.50 5.60 440 @ 5.80 340 @ 5.90 740 @ 6.20 340 @ 6.40 Sales April 5 12 440 28 340 27 1,080 150

Concord Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 4 11 18 26 30 240 540 @ $5.50 5.60 440 @ 5.80 340 @ 5.90 740 @ 6.20 340 @ 6.40 Sales April 5 12 440 28 340 27 1,080 150

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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Question

Please do not give solution in image format thanku

(a2)
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, eg. 6,548.)
Ending inventory
(1)
FIFO
(2)
LIFO
(3)
Average-cost

Concord Company's record of transactions concerning part X for the month of April was as follows.
Purchases
April 1 (balance on hand)
(a1)
4
11
18
26
30
240 @ $5.50
540 @
5.60
440 @
5.80
340 @ 5.90
740 @ 6.20
340 @ 6.40
Sales
Weighted average cost per unit
April 51
12
27
28
440
340
1,080
150
Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7682.)

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