Question

Vaughn Company's record of transactions for the month of April was as follows. Purchases April 1 (balance on hand) 1,140 @ $6.00 2,850 @ 6.08 1,520 @ 6.40 2,280 @ 6.50 1,330 @ 6.60 950 @ 6.79 10,070 Sales April 3 950 @ $10.00 9 2,660 @ 10.00 11 1,140 @ 11.00 23 2,280 @ 11.00 27 1,710 @ 12.00 8,740 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Average-cost per unit $ per unit e Textbook and Media Assuming that periodic inventory records are kept in units only, compute the inventory at April 30 using LIFO and average-cost. (Round answer to 0 decimal places, e.g. 2,760.) LIFO Average-cost $

Answer 1

+ Vaughan company cost of Goods available for sole. April 1 1140 2850 1520 2280 1330 950 10OTO x x X X X X $6 6.08 6.40 6.50 6.60 6.79 13 21 = $ 6840 - 17328 = 9+28 = 14820 8778 = 6450.5 63,944-5 29 TOTAL 1 AUG cost per unit $ 6- 35 per unit = $ 63944.5 = 100 70] periodic - Inventory Ending Inventory LIFO Average cost 7995 8446 $ Ending inventory = 10070 - 8740 - 1330 unit 5 8445.5 84 46 DAUG costo 1330 x $ 6.35 7 22LIFO (11404 5 6) + (1907 6.08) > 7995257995

FIFO (5) 986 hs t = b5b8 -shbE9 $ FIFO $54986 (4) cost of Good sold: - Gh£8 $ IS LE8$ Ishg 0800 SS11 ohill $ blog thenoEEI eng X osb be 80.9 $ x obl h 9 $ x obl I ledt = LIFO bsb8 $ = (09.9 X 088) + (bt 9 Vosb) (1) FIFO $8959 Jnventory $8375 LIFO FIFO 6) espetual Inventory system: ending Inventory