18 8 ( Compute FIFO LIFO , and Average Cost ) Some of the information found on a detail inventory card for Slack in Inc . for the first month of...
I do not understand the answer of Requirement (b) for the average cost method. How can it compute the unit cost, e.g. 3.1091, 3.2281, 3.3773, 3.4626?
18 8 ( Compute FIFO LIFO , and Average Cost ) Some of the information found on a detail inventory cardfor Slack in Inc . for the first month of operations is as follows .Problems 30FacelovedButOneDateNo . of UnitsUne CostNo . of UnitNo of unitsJanuary 2$3003201.1000902301.1003002406002 300Instructions( 2 ) From these data compute the ending inventory on each of the following bies Assume that pepetual inventory records are kept in units only Carry unit costs to four decimal places and endinginventory to the nearest dollar )( 1 ) First-in first-out FROM12 ) Lanta Bestow UPON13) Average cool( b ) If the perpetual inventory record is kept in dollars , and costs are computed at the time of eachwithdrawal would the amounts shown is ending Inventory in 1 , 2 and 3 above be the someExplain and compute
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