*Exercise 8-11 Windsor Company's record of transactions for the month of April was as follows....
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*Exercise 8-11 Windsor Company's record of transactions for the month of April was as follows. Purchases April 1 (balance on hand) 738 @ $6.00 1,845 @ 6.08 984 @ 6.43 1,476 @ 6.63 861 @ 6.83 615 @ 7.04 6,519 Sales April 3 615 @ $10.00 9 1,722 @ 10.00 11 738 @ 11.00 23 1,476 @ 11.00 27 1,107 @ 12.00 5,658 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 er unit $ per unit 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-costs Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO. (Round answer to o decimal places, e.g. 2,760.) Inventory s Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO. (Round answer to o decimal places, e.g. 2,760.) Cost of goods sold In an inflationary period, which inventory method-FIFO, LIFO, average-cost-will show the highest net income? inventory method will show the highest net income
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