Coronado Company's record of transactions for the month of April was as follows. April 1 (balance on hand) A 8 13 21 (a2) 29 Average-cost per unit $ Purchases eTextbook and Medial LIFO Your answer is correct. Average-cost 960 @ $5.20 Inventory $ 2,400 @ 1,280 @ 1,920 @ 1,120 @ 800 @ (1) FIFO 8,480 5840 5.30 6227 5.60 5.70 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) 5.80 6.00 $ 5.56 per unit April 3 9 11 23 Assuming that periodic inventory records are kept in units only, compute the inventory at April 30 using LIFO and average-cost. (Round answer to 0 decimal places, eg. 2,760.) (2) LIFO 27 Sales 800 @$10.00 2,240 @ 10.00 960 @ 11.00 1,920 @ 11.00 1.440 @ 12.00 7,360 Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO. Attempts: 3 of 7 used
Coronado Company's record of transactions for the month of April was as follows. April 1 (balance on hand) A 8 13 21 (a2) 29 Average-cost per unit $ Purchases eTextbook and Medial LIFO Your answer is correct. Average-cost 960 @ $5.20 Inventory $ 2,400 @ 1,280 @ 1,920 @ 1,120 @ 800 @ (1) FIFO 8,480 5840 5.30 6227 5.60 5.70 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) 5.80 6.00 $ 5.56 per unit April 3 9 11 23 Assuming that periodic inventory records are kept in units only, compute the inventory at April 30 using LIFO and average-cost. (Round answer to 0 decimal places, eg. 2,760.) (2) LIFO 27 Sales 800 @$10.00 2,240 @ 10.00 960 @ 11.00 1,920 @ 11.00 1.440 @ 12.00 7,360 Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO. Attempts: 3 of 7 used
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please dont give solutions in an image format thanks
Transcribed Image Text:Coronado Company's record of transactions for the month of April was as follows.
April 1 (balance on hand)
8
13
21
29
(a2)
Average-cost per unit $
Purchases
eTextbook and Media
LIFO
Your answer is correct.
Average-cost
960 @ $5.20
2,400 @ 5.30
1,280 @ 5.60
Inventory $
1,920 @
1,120 @
(1)
FIFO
8,480
800 @ 6.00
5.70
5840
5.80
6227
Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal
places, e.g. 2.76.)
5.56 per unit
April 3
$
9
11
482
(2)
LIFO
23
Assuming that periodic inventory records are kept in units only, compute the inventory at April 30 using LIFO and average-cost.
(Round answer to O decimal places, eg. 2,760)
27
Sales
800 @$10.00
2,240 @ 10.00
960 @
1,920 @
1.440 @
7,360
11.00
11.00
12.00
Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO.
Attempts: 3 of 7 used
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