Purchases September 1 (balance on hand) Concord Company's record of transactions concerning part WA6 for the month of September was as follows: 12 16 22 26 Show Transcribed Text Your answer is incorrect. Ending inventory 3 (1) FIFO 300 300 @ $11.40 200 @ 11.50 300 @ 11.65 11.70 11.70 11.80 (² 500 300 @ G C Sales (2) LIFO September 4 17 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, es 2.7621 and final answers to 2 decimal places, eg 6,548.25) 27 30 400 600 300 200 (3) Average-cost
Purchases September 1 (balance on hand) Concord Company's record of transactions concerning part WA6 for the month of September was as follows: 12 16 22 26 Show Transcribed Text Your answer is incorrect. Ending inventory 3 (1) FIFO 300 300 @ $11.40 200 @ 11.50 300 @ 11.65 11.70 11.70 11.80 (² 500 300 @ G C Sales (2) LIFO September 4 17 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, es 2.7621 and final answers to 2 decimal places, eg 6,548.25) 27 30 400 600 300 200 (3) Average-cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Rahul
Transcribed Image Text:Concord Company's record of transactions concerning part WA6 for the month of September was as follows:
September 1 (balance on hand)
3
12
16
22
26
Show Transcribed Text
Purchases
Your answer is incorrect.
Ending inventory
G
(1)
FIFO
300 @$11.40
200 @
300 @
300 @
500
300
@
3
11.50
11.65
11.70
11.70
11.80
U
Sales
September 4
17
(2)
LIFO
27
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, es
2.7621 and final answers to 2 decimal places, eg 6,548.25)
30
400
600
300
200
(3)
Average-cost
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