VVIICH UI the TVWO TmetiTIOUS UC you pTeter affa wiry: P8-4 (LO3) EXCEL (Compute FIFO, LIFO, and Average-Cost) Hull Company's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 100 @ $5.00 April 5 300 400 @ 5.10 12 200 11 300 @ 5.30 27 800 18 200 @ 5.35 28 150 26 600 @ 5.60 30 200 @ 5.80 Instructions (a) Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. Carry unit costs to the nearest cent. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost.
VVIICH UI the TVWO TmetiTIOUS UC you pTeter affa wiry: P8-4 (LO3) EXCEL (Compute FIFO, LIFO, and Average-Cost) Hull Company's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 100 @ $5.00 April 5 300 400 @ 5.10 12 200 11 300 @ 5.30 27 800 18 200 @ 5.35 28 150 26 600 @ 5.60 30 200 @ 5.80 Instructions (a) Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. Carry unit costs to the nearest cent. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 11P: Dollar-Value LIFO Retail Intella Inc. adopted the dollar-value retail LIFO method on January 1,...
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![VVIICH UI the TVWO TmetiTIOUS UC you pTeter affa wiry:
P8-4 (LO3) EXCEL (Compute FIFO, LIFO, and Average-Cost) Hull Company's record of transactions concerning part X
for the month of April was as follows.
Purchases
Sales
April 1 (balance on hand)
100 @ $5.00
April 5
300
400 @ 5.10
12
200
11
300 @ 5.30
27
800
18
200 @ 5.35
28
150
26
600 @ 5.60
30
200 @ 5.80
Instructions
(a) Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in
units only. Carry unit costs to the nearest cent.
(1) First-in, first-out (FIFO).
(2) Last-in, first-out (LIFO).
(3) Average-cost.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F33c07771-03c2-4944-a417-938375120bb0%2F44c2012d-a912-474e-997d-5b7db40cc1ec%2Fdad9v58.jpeg&w=3840&q=75)
Transcribed Image Text:VVIICH UI the TVWO TmetiTIOUS UC you pTeter affa wiry:
P8-4 (LO3) EXCEL (Compute FIFO, LIFO, and Average-Cost) Hull Company's record of transactions concerning part X
for the month of April was as follows.
Purchases
Sales
April 1 (balance on hand)
100 @ $5.00
April 5
300
400 @ 5.10
12
200
11
300 @ 5.30
27
800
18
200 @ 5.35
28
150
26
600 @ 5.60
30
200 @ 5.80
Instructions
(a) Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in
units only. Carry unit costs to the nearest cent.
(1) First-in, first-out (FIFO).
(2) Last-in, first-out (LIFO).
(3) Average-cost.
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