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Ending inventory FIFO 4762 (2) LIFO 4536 (3) Average-cost

Ending inventory FIFO 4762 (2) LIFO 4536 (3) Average-cost

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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Bonita Company's record of transactions concerning part X for the month of April was as follows. (a2) Purchases April 1 (balance on hand) 11 18 26 30 Your answer is partially correct. Ending inventory eTextbook and Media Save for Later 280 FIFO 580 480 380 @ $5.90 6.00 6.30 780 6.60 380 @ 6.80 4762 6.30 (2) LIFO Sales April 5 12 27 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.) 28 4536 480 380 1,160. 150 (3) Average-cost Attempts: 1 of 5 used Submit Answer
Transcribed Image Text:Bonita Company's record of transactions concerning part X for the month of April was as follows. (a2) Purchases April 1 (balance on hand) 11 18 26 30 Your answer is partially correct. Ending inventory eTextbook and Media Save for Later 280 FIFO 580 480 380 @ $5.90 6.00 6.30 780 6.60 380 @ 6.80 4762 6.30 (2) LIFO Sales April 5 12 27 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.) 28 4536 480 380 1,160. 150 (3) Average-cost Attempts: 1 of 5 used Submit Answer
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