1 2 The Reliable Appliance Mart began operations on May 1 and uses a perpetual inventory...

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1 2 The Reliable Appliance Mart began operations on May 1 and uses a perpetual inventory system. 3 During May, the company had the following purchases and sales for its Model 25 Sureshot camera: 4 5 6 Date Purchases Units Sales Unit Cost Units Unit Price 7 8 May-01 7 $150.00 9 4 5 10 8 8 $170.00 11 12 5 12 15 5 $180.00 13 20 4 14 25 2 15 Cost of Goods Available for Sale: $3,310.00 16 a) Determine the cost of goods sold and ending inventory under a perpetual inventory system using (1) FIFO 17 (2) LIFO and (3) moving average cost. 18 1 2 The Reliable Appliance Mart began operations on May 1 and uses a perpetual inventory system. 3 During May, the company had the following purchases and sales for its Model 25 Sureshot camera: 4 5 6 Date Purchases Units Sales Unit Cost Units Unit Price 7 8 May-01 7 $150.00 9 4 5 10 8 8 $170.00 11 12 5 12 15 5 $180.00 13 20 4 14 25 2 15 Cost of Goods Available for Sale: $3,310.00 16 a) Determine the cost of goods sold and ending inventory under a perpetual inventory system using (1) FIFO 17 (2) LIFO and (3) moving average cost. 18