Swifty Company's record of transactions concerning part WA6 for the month of September was as follows:...

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Swifty Company's record of transactions concerning part WA6 for the month of September was as follows: Purchases Sales September 1 (balance on hand) 300 @ $11.20 September 4 400 3 200 @ 11.30 17 600 12 300 @ 11.45 16 300 @ 11.50 28 27 300 30 200 22 500 @ 11.50 26 300 @ 11.60 (a1) (a2) (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 under (1) FIFO, (2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to 2 decimal places, e.g. 6,548.25.) Ending inventory (1) FIFO (2) LIFO $ (3) Average-cost LA $ Swifty Company's record of transactions concerning part WA6 for the month of September was as follows: Purchases Sales September 1 (balance on hand) 300 @ $11.20 September 4 400 3 200 @ 11.30 17 600 12 300 @ 11.45 16 300 @ 11.50 28 27 300 30 200 22 500 @ 11.50 26 300 @ 11.60 (a1) (a2) (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 under (1) FIFO, (2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to 2 decimal places, e.g. 6,548.25.) Ending inventory (1) FIFO (2) LIFO $ (3) Average-cost LA $

Answer rating: 100% (QA)

1 FIFO Date Unit cost Units Unsold Total Cost September 22 1150 100 1150 September 26 1160 300 ... View the full answer