Concord Company's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 240 @ $5.50 April 5 440 4 540 @ 5.60 12 340 11 440 @ 5.80 27 1,080 18 340 @ 5.90 28 150 23 26 740 @ 6.20 30 340 @ 6.40 (a1) Your answer is correct. Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7682.) Weighted-average cost per unit $ 5.9341 (a2) eTextbook and Media Your answer is incorrect. Attempts: 1 of 3 used 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 O decimal places, e.g. 6,548.) (1) FIFO Ending inventory (2) LIFO (3) Average-cost $
Concord Company's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 240 @ $5.50 April 5 440 4 540 @ 5.60 12 340 11 440 @ 5.80 27 1,080 18 340 @ 5.90 28 150 23 26 740 @ 6.20 30 340 @ 6.40 (a1) Your answer is correct. Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7682.) Weighted-average cost per unit $ 5.9341 (a2) eTextbook and Media Your answer is incorrect. Attempts: 1 of 3 used 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 O decimal places, e.g. 6,548.) (1) FIFO Ending inventory (2) LIFO (3) Average-cost $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Concord Company's record of transactions concerning part X for the month of April was as follows.
Purchases
Sales
April 1 (balance on hand)
240
$5.50
April 5
440
4
540
@
5.60
12
340
23
11
18
340
26
740
30
340
440
@
5.80
27
1,080
5.90
28
150
@
6.20
6.40
(a1)
Your answer is correct.
Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7682.)
Weighted-average cost per unit
(a2)
eTextbook and Media
Your answer is incorrect.
5.9341
Attempts: 1 of 3 used
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 O decimal places, e.g. 6,548.)
(1)
FIFO
Ending inventory
(2)
LIFO
(3)
Average-cost
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