P7.4 (LO 3) (Compute Specific Identification, FIFO, and Average-Cost) Silva SA’s record of transactions concerning part X for the month of April was as follows.

Purchases Sales April 1 (balance on hand) 100 @ R$5.00 April 5 300 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. Specific identification; ending inventory is comprised of 100 units from beginning inventory and 250 units from the April 26 purchase.

2. First-in, first-out (FIFO).

3. Average-cost.

b. 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 in 1, 2, and 3 above? (Carry average unit costs to four decimal places, and total costs to two decimal places.)