Question: Chapter 6 Problem E The following purchases and sales for Ripple Company are for April 2010. There was no inventory on April 1. Purchases Sales
Chapter 6 Problem E The following purchases and sales for Ripple Company are for April 2010. There was no inventory on April 1. Purchases Sales Unit Units Cost Units April 3 3,200 $33.00 April 6 1,500 April 10 1,600 34.00 April 12 1,400 April 22 2,000 35.00 April 25 2,300 April 28 1,800 36.00 5200 8600 1. Compute the ending inventory as of 2010 April 30, using perpetual inventory procedure, under each of the following methods: (1) FIFO, (2) LIFO, and (3) weighted- average (carry unit cost to four decimal places and round total cost to nearest dollar). 2. Repeat a using periodic inventory procedure
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