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Compute the inventory at april under last-in first-out

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Reference no: EM132949828

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

Purchases                                                              Sales

April 1(balance on hand)  4..;@ $7.10            April 5 600

4                                7..;@ 7.20 12 500

11                              6..;@ 7.50 27 1,400

18                              5..;@ 7.60 28 150

26                              9..;@ 8.00

30                              5..;@ 8.20

Problem 1: Compute the inventory at April 30 under Last-in, first-out (LIFO). Assume that perpetual inventory records are kept in units only.

Reference no: EM132949828

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