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?