Bruce owns a cooperative project with two other members. any member that chooses to put in a full day of work faces a cost of £50 but produces a total income of £120, which is shared amongst the three. so, for example, if bruce and one other member do a full day of work, then the income per member is (£120 x 2)/3 = £80, leaving bruce with a net income of £80 - £50 = £30. assume that a member must either put in a full day of work or none at all. based on this information, we can conclude that:

Waterway company’s record of transactions for the month of april was as follows. purchases sales april 1 (balance on hand) 672 @ $6.00 april 3 560 @ $11.00 4 1,680 @ 6.08 9 1,568 @ 11.00 8 896 @ 6.41 11 672 @ 12.00 13 1,344 @ 6.51 23 1,344 @ 12.00 21 784 @ 6.61 27 1,008 @ 13.00 29 560 @ 6.79 5,152 5,936 (a) calculate average-cost per unit. (b) assuming that periodic inventory records are kept in units only, compute the inventory at april 30 using lifo and average-cost. (c) assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) fifo and (2) lifo. (d) compute cost of goods sold assuming periodic inventory procedures and inventory priced at fifo.