Perpetual Inventory Cost Flow Alternatives Using the above example, we assume Lehi Wholesale Distributors buys printers from manufacturers and sells them to office supply stores. During January 2009, its inventory records showed the following:

Jan. 1 Beginning inventory consisted of 26 printers at $200 each.

10 Purchased 10 printers at $220 each.

12 Sold 15 printers.

15 Purchased 20 printers at $250 each.

17 Sold 14 printers.

19 Sold 8 printers.

28 Purchased 9 printers at $270 each.

Required:

Calculate ending inventory and cost of goods sold, using:

1. Perpetual FIFO inventory.

2. Perpetual LIFO inventory.

3. Perpetual average cost.