mpany Purchases September 1 (balance on hand) 12 16 22 26 300 200 300 300 5000 300 $11.40 11.50 11.65 11.70 11.70 11.80 Sales (2) September 4 17 27 30 400 600 300 200 Compute the inventory at September 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 average cost per unit to 2 decimal places, eg 2.76 and final answers to O decimal places, e.g. 6.548.) (3)
mpany Purchases September 1 (balance on hand) 12 16 22 26 300 200 300 300 5000 300 $11.40 11.50 11.65 11.70 11.70 11.80 Sales (2) September 4 17 27 30 400 600 300 200 Compute the inventory at September 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 average cost per unit to 2 decimal places, eg 2.76 and final answers to O decimal places, e.g. 6.548.) (3)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
please answer do not image format
![Concord Company's record of transactions concerning part WA6 for the month of September was as follows:
Purchases
September 1 (balance on hand)
12
16
22
26
Ending inventory
.
$
300
(1)
FIFO
200
300
300
500
300
@
@0
$11.40
11.50
11.65
11.70
11.70
11.80
Sales
September 4
(2)
LIFO
17
27
30
400
Compute the inventory at September 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 average cost per unit to 2 decimal places, eg
2.76 and final answers to O decimal places, e.g. 6.548)
600
300
200
(3)
Average-cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F250cd2b0-96da-400a-923c-2108262cd9b4%2Fa38a4cce-900b-4046-a384-36c2a1808c35%2Fdcp8qm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Concord Company's record of transactions concerning part WA6 for the month of September was as follows:
Purchases
September 1 (balance on hand)
12
16
22
26
Ending inventory
.
$
300
(1)
FIFO
200
300
300
500
300
@
@0
$11.40
11.50
11.65
11.70
11.70
11.80
Sales
September 4
(2)
LIFO
17
27
30
400
Compute the inventory at September 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 average cost per unit to 2 decimal places, eg
2.76 and final answers to O decimal places, e.g. 6.548)
600
300
200
(3)
Average-cost
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