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Experience:  BS Accounting
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LoBianco companys record of transactions for the month april

Customer Question

LoBianco company's record of transactions for the month april was as following :
purchase sales
april 1 600@ 6.00 april 3 500 @10.00
4 XXX@XXXXXX.XXX 9 1300 @10.00
8 800@ 6.40 11 600 @11.00
13 1200 @6.50 23 1200@ 11.00
21 700@ 6.60 27 XXX@XXXXXX.XXX
29 500@ 6.79 4500
5300
instruction :
b) assuming that perpetual inventory records are kept in both units and dollars determine the inventory at April 30 using FIFO AND LIFO
C)compute cost of goods sold assuming periodic inventory procedures and inveotry priced at FIFO
d) in an inflationary period which inventory method FIFO , LIFO average cost –will show the highest net income?
Submitted: 2 years ago.
Category: Homework
Expert:  Neo replied 2 years ago.
Good day!

There are some missing information. Please copy and paste it to MS Word, upload the file to http://www.mediafire.com and please post the sharing URL here.

Thank you so much! :)

Customer: replied 2 years ago.
http://www.mediafire.com/?21qzf63fpaj2rvl
Expert:  Neo replied 2 years ago.

Please download HERE.

Thank you so much! :)
Neo, Tutor
Category: Homework
Satisfied Customers: 12062
Experience: BS Accounting
Neo and 6 other Homework Specialists are ready to help you
Customer: replied 2 years ago.
can you tell me how do you know the ending inventory is 800? thanks
Expert:  Neo replied 2 years ago.
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