unc.1 Oriole Company's record of transactions concerning part X for the month of April was as follows.PurchasesApril 1 (balance on hand)11182030390 @690 @590 @490 @890 @490$7.007.107.407.507.808.10SalesApril 51227285904901,380150 If 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. 2.7621 and final answers to 0 decimal places, e.g. 6,548.)Ending inventory $(1)FIFO7,401(2)LIFO1(3)Average-cost

Ending Inventory is the value of the merchandise or items that remain in the warehouse of the…

Oriole Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 11 18 20 30 390 690 @ 590 @ 490 890 @ 490 @ $7.00 7.10 7.40 7.50 7.80 8.10 Sales April 5 590 490 27 1,380 150 12 28

Oriole Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 11 18 20 30 390 690 @ 590 @ 490 890 @ 490 @ $7.00 7.10 7.40 7.50 7.80 8.10 Sales April 5 590 490 27 1,380 150 12 28

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 20EB: Prepare journal entries to record the following transactions. A. November 19, purchased merchandise...

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Question

unc.1

Oriole Company's record of transactions concerning part X for the month of April was as follows.
Purchases
April 1 (balance on hand)
11
18
20
30
390 @
690 @
590 @
490 @
890 @
490
$7.00
7.10
7.40
7.50
7.80
8.10
Sales
April 5
12
27
28
590
490
1,380
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.)
Ending inventory $
(1)
FIFO
7,401
(2)
LIFO
1
(3)
Average-cost

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