BE6-10 Jensen’s Department Store uses a perpetual inventory system. Data for product E2-

D2 include the following purchases.

Number Unit Date of Units Price May 7 50 $10 July 28 30 13 On June 1 Jensen’s sold 30 units, and on August 27,40 more units. Prepare the perpetual inven¬

tory schedule for the above transactions using (1) FIFO, (2) LIFO, and (3) average-cost.

Apply costflow methods to perpetual inventory records.

(SO 7)

BE6-11 At May 31, Creole Company has net sales of $330,000 and cost of goods available for Apply the gross profit method.

sale of $230,000. Compute the estimated cost of the ending inventory, assuming the gross profit (SO 8)

rate is 35%.