Abbott's Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date

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Abbott's Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.

Date Number of Units Unit Price May 7 50 $11 July 28 30 iS On June 1, Abbott's sold 30 units, and on August 27, 35 more units. Prepare the perpetual inventory schedule for the above transactions using

(a) FIFO,

(b) LIFO, and

(c) movingaverage cost.

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Financial Accounting

ISBN: 9780470929384

8th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, J. Mather

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