Novak Company’s record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 708 @ $5.00 April 3 590 @ $10.00 4 1,770 @ 5.09 9 1,652 @ 10.00 8 944 @ 5.38 11 708 @ 11.00 13 1,416 @ 5.48 23 1,416 @ 11.00 21 826 @ 5.68 27 1,062 @ 12.00 29 590 @ 5.87 5,428 6,254 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.) Average-cost per unit $ per unit LINK TO TEXT 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, e.g. 2,760.) LIFO $ Average-cost $
Novak Company’s record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 708 @ $5.00 April 3 590 @ $10.00 4 1,770 @ 5.09 9 1,652 @ 10.00 8 944 @ 5.38 11 708 @ 11.00 13 1,416 @ 5.48 23 1,416 @ 11.00 21 826 @ 5.68 27 1,062 @ 12.00 29 590 @ 5.87 5,428 6,254 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.) Average-cost per unit $ per unit LINK TO TEXT 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, e.g. 2,760.) LIFO $ Average-cost $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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