How to solve this question below? Sunland Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 4 11 18 26 30 (balance on hand) Sales 320 @ $6.30 620 @6.40 520 @ 6.70 420 @ 6.70 820 @7.10 420 @ 7.30 April 5 12 27 28 520 420 1,240 150 If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would be shown as ending inventory under (1) FIFO, (2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to 0 decimal places, e.g. 6,548.)
How to solve this question below? Sunland Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 4 11 18 26 30 (balance on hand) Sales 320 @ $6.30 620 @6.40 520 @ 6.70 420 @ 6.70 820 @7.10 420 @ 7.30 April 5 12 27 28 520 420 1,240 150 If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would be shown as ending inventory under (1) FIFO, (2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to 0 decimal places, e.g. 6,548.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:How to solve this question below?
Sunland Company's record of transactions concerning part X for the month of April was as follows.
Purchases
April 1
4
11
18
26
30
(balance on hand)
Ending Inventory
(1)
FIFO
Sales
$
(2)
LIFO
320 @ $6.30
620 @
520 @ 6.70
6.70
$
420
820 @ 7.10
6.40
420 @7.30
(3)
Average-cost
$
April 5
If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would be
shown as ending inventory under (1) FIFO, (2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g. 2.7621
and final answers to 0 decimal places, e.g. 6,548.)
12
27
28
520
420
1,240
150
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