Solution-What amount would be shown as ending inventory

What amount would be shown as ending inventory

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Reference no: EM131733653

Question -

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

Purchases		Sales
April 1 (balance on hand)	200 @ $5.10	April 5	400
4	500 @ 5.20	12	300
11	400 @ 5.41	27	1,000
18	300 @ 5.46	28	150
26	700 @ 5.71
30	300 @ 5.92

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?

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What amount would be shown as ending inventory

Reference no: EM131733653

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