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Compute the inventory at april 30 on average-cost base

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Reference no: EM132382292

Question :

Tamarisk Company's record of transactions concerning part X for the month of April was as follows.

Purchases

 

 

 

Sales

April 1 (balance on hand)

430

@

$7.40

April 5

630

4

730

@

7.55

12

530

11

630

@

7.84

27

1,460

18

530

@

7.92

28

150

26

930

@

8.29

 

 

30

530

@

8.58

 

 

Compute the inventory at April 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 final answers to 0 decimal places, e.g. $6,548.)

Reference no: EM132382292

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