compute fifo, lifo, and average cost

Project Description:

week 5 task p8-4 chapter 8
intermediate accounting
devry university/keller graduate school of management

purchases sales
1-apr (balance on hand) 100 @ $5.00 5-apr 300
4 400 @ 5.10 12 200
11 300 @ 5.30 27 800
18 200 @5.35 28 150
26 600 @5.60
30 200 @5.80

instructions
(a) compute the inventory at april 30 on each of the following bases. assume that perpetual inventory records are kept in units only. carry unit costs to the nearest cent.

(1) first-in, first-out (fifo).

(2) last-in, first-out (lifo).

(3) average cost.
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