The following information was available from the inventory records of the Dunn Company for January 2014:

(1)Assuming that Dunn maintains perpetual inventory records,what should be the inventory at January 31,2014,using the FIFO inventory method,rounded to the nearest dollar?
(2)Assuming that Dunn maintains perpetual inventory records,what should be the inventory at January 31,2014,using the LIFO inventory method,rounded to the nearest dollar?
(3)Assuming that Dunn does not maintain perpetual inventory records,what should be the inventory at January 31,2014,using the average cost inventory method,rounded to the nearest dollar?

Question

The following information was available from the inventory records of the Dunn Company for January 2014:
  
(1)Assuming that Dunn maintains perpetual inventory records,what should be the inventory at January 31,2014,using the FIFO inventory method,rounded to the nearest dollar?
(2)Assuming that Dunn maintains perpetual inventory records,what should be the inventory at January 31,2014,using the LIFO inventory method,rounded to the nearest dollar?
(3)Assuming that Dunn does not maintain perpetual inventory records,what should be the inventory at January 31,2014,using the average cost inventory method,rounded to the nearest dollar?

Quizplus · Accepted Answer

The Answer of The following information was available from the inventory records of the Dunn Company for January 2014:
  
(1)Assuming that Dunn maintains perpetual inventory records,what should be the inventory at January 31,2014,using the FIFO inventory method,rounded to the nearest dollar?
(2)Assuming that Dunn maintains perpetual inventory records,what should be the inventory at January 31,2014,using the LIFO inventory method,rounded to the nearest dollar?
(3)Assuming that Dunn does not maintain perpetual inventory records,what should be the inventory at January 31,2014,using the average cost inventory method,rounded to the nearest dollar?

The Following Information Was Available from the Inventory Records of the Dunn