Explain to me where the numbers came from so i can do this

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Reference no: EM13586814

Explain to me where the numbers came from so I can do this on my own in the future. LoBianco Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 636 @ $6.0 April 3 530 @ $8 4 1,590 @ 6.2 9 1,378 @ 8 8 848 @ 6.5 11 636 @ 10 13 1,272 @ 6.7 23 1,272 @ 10 21 742 @ 6.8 27 954 @ 13 29 530 @ 7.1 4,770 5,618 1) Assuming that periodic inventory records are kept, compute the inventory at April 30 using LIFO and average cost. (Round answer to 0 decimal places, e.g. $2,760.) (2) Assuming that perpetual inventory records are kept in both units and dollars, determine the inventory at April 30 using FIFO and LIFO. (Round ans (c) Total merchandise available for sale Less inventory (FIFO) Cost of goods sold D. FIFO.

Reference no: EM13586814

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