1) First In, First Out (FIFO) 2) Last In, First Out (LIFO) ...
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Accounting
1) First In, First Out (FIFO)
2) Last In, First Out (LIFO)
3) Average Cost
Hull Company's record of transactions concerning part X for the month of April was as follows. Purchases Sales Quantity: Unit Cost: Quantity: Apr 1 (Balance on hand) 110 $26.00 Apr 5 290 Apr 4 420 26.20 Apr 12 200 280 26.30 Apr 27 310 210 26.40 Apr 11 Apr 18 Instructions: (a) Compute the inventory at April 30 and the cost of goods sold during April on each of the following bases. Assume that periodic inventory records are kept. Carry unit costs to the nearest cent
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