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(Solution Download) Question 10 INCORRECT ANSWER IN PART b Hull CompanyAc??cs record of transactions concerning part


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Question 10 INCORRECT ANSWER IN PART b

 

Hull CompanyAc??cs record of transactions concerning part X for the

 

month of April was as follows.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchases

 

 

Sales

 

April 1(balance on hand)410@$7.40April 5610
4710@7.5012510
11610@7.80271,420
18510@7.9028150
26910@8.30
30510@8.60

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collapse question part

 

(a1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Correct answer.Your answer is correct.

 

Calculate average-cost per unit. (Round answer to 4

 

decimal places, e.g. 2.7621.)

 

 

 

 

 

 

 

 

 

Average-cost per unit

 

$7.9467Entry field with correct answer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SHOW ANSWER

 

 

LINK TO TEXT

 

LINK TO TEXT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Attempts: 2 of 9 used

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collapse question part

 

(a2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Correct answer.Your answer is correct.

 

Compute the inventory at April 30 on each of the following bases.

 

Assume that perpetual inventory records are kept in units only. (1)

 

First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3)

 

Average-cost. (Round final answers to 0 decimal places,

 

e.g. $6,548.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

 

FIFO

 

 

(2)

 

LIFO

 

 

(3)

 

Average-cost

 

Ending Inventory

 

$8204Entry field with correct answer  

 

 

$7234Entry field with correct answer

 

 

$7708Entry field with correct answer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SHOW ANSWER

 

 

LINK TO TEXT

 

LINK TO TEXT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Attempts: 2 of 9 used

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collapse question part

 

(b)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Partially correct answer.Your answer is partially correct. Try again.

 

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 0 decimal places, e.g.

 

6,548.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

 

FIFO

 

 

(2)

 

LIFO

 

 

(3)

 

Average-cost

 

Ending Inventory

 

$8204Entry field with correct answer

 

 

$7795Entry field with correct answer

 

 

$7708 AVERAGE-COST INCORRECTEntry field with incorrect answer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Attempts: 5 of 9 used

 

SAVE FOR LATER

 

 

SUBMIT ANSWER

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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