Please do not give solution in image format thanku How to solve this question below?Sunland Company's record of transactions concerning part X for the month of April was as follows.PurchasesApril 1411182630(balance on hand)Ending Inventory(1)FIFOSales$(2)LIFO320 @ $6.30620 @520 @ 6.706.70$420820 @ 7.106.40420 @7.30(3)Average-cost$April 5If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would beshown as ending inventory under (1) FIFO, (2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g. 2.7621and final answers to 0 decimal places, e.g. 6,548.)1227285204201,240150

FIFO : It stands for First -In-First -Out. It is a method of inventory valuation where materials are…

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.)

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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