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Ayayai Companys record of transactions concerning part X for the month of April was as follows.

Purchases Sales April 1 (balance on hand) 310 @ $6.20 April 5 510 4 610 @ 6.32 12 410 11 510 @ 6.57 27 1,220 18 410 @ 6.63 28 150 26 810 @ 6.94 30 410 @ 7.19

Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal places, e.g. 2.76.)

Average-cost per unit $

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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 $ $ $

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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 $ $ $ Click if you would like to Show Work for this question: Open Show Work

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Assuming no purchase or payment transactions other than those given above, prepare the adjusting entry required on May 31 if financial statements are to be prepared as of that date. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 6,578. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date Account Titles and Explanation Debit Credit May 31

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