Amount would be shown as ending inventory under

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

Purchases

 

Sales

April 1

(balance on hand)

 

390

@

$5.50

 

April 5

 

590

4

 

 

690

@

5.60

 

12

 

490

11

 

 

590

@

5.80

 

27

 

1,380

18

 

 

490

@

5.80

 

28

 

150

26

 

 

890

@

6.10

 

 

 

 

30

 

 

490

@

6.30

 

 

 

 

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? (Avg Cost is 5.8726)

Reference no: EM13918880

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