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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
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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(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
Transcribed Image Text:(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.)
Transcribed Image Text: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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