PERPETUAL INVENTORY COSTING METHODS FOR 2 YEARS. Gavin Products {t#

uses a perpetual inventory system. For 19x1 and 19x2, Gavin has the following data:

REQUIRED:
1. Compute 19x1 cost of goods sold and ending inventory using the FIFO, LIFO, and weighted average methods.
2. Compute 19x2 cost of goods sold and ending inventory using the FIFO, LIFO, and weighted average methods. D-2

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19x1 Inventory, 1/1/x1 Purchase, 2/15/x1 Sell, 3/10/x1... Purchase, 9/15/x1 UNITS COST PER UNIT 200 $ 9 300 220 500 240 | 12 10 Sell, 12/3/x1... 19x2 Sell, 4/4/x2 400 Purchase, 6/25/x2 200 11 Sell, 12/18/x2 150