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Finance Assignment | Top Essay Writing

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Concord Corp. had 1,900 units of part T on hand on April 1, 2017, costing $8 each. During April, Concord made the following purchases of part T.

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Units Unit
Cost
April 4 2,700 $8.25
10 4,800 8.40
19 1,200 9
29 3,000 9.90

 

A physical count on April 30, 2017, showed 4,300 units of Part T on hand.

Using the FIFO method, what is the cost of part T inventory on April 30, 2017? Using the LIFO method, what does the inventory cost? Using the average-cost method, what does the inventory cost? (Round average cost per unit to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 1,620.)

FIFO LIFO Average Cost
Inventory Cost Entry field with incorrect answer Entry field with incorrect answer
Incorrect answer.

Sheridan Company has used the dollar-value LIFO method since January 1, 2017. Sheridan uses internal price indexes and multiple pools. At the end of the calendar year 2018, the following data are available for Sheridan’s inventory pool A.

Inventory At Base-Year Cost At Current-Year
Cost
January 1, 2017 $1,000,000 $1,000,000
December 31, 2017 1,290,000 1,419,000
December 31, 2018 1,340,000 1,581,200

Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory in Pool A be reported on December 31, 2018? Get Finance homework help today

December 31, 2018
Price Index Entry field with incorrect answer
Dollar-value LIFO inventory

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