11 Periodic & Perpetual Inventory System Example The following is Inventory, Purchases, and Sales data for Delta company Mar Beginning 68 units @ $15.00 per 1 Inventory unit 140 units @ $15.50 5 Purchase per unit 94 units @ $19.00 per 9 Sale unit 40 units @ $16.00 per Purchase unit 78 units @ $16.50 per 16 Purchase unit 20 Sale 116 units @ $19.50 per unit Sale 62 units @ $21.00 per unit The physical inventory count on March 31 shows 54 units on hand. Instructions Under both periodic and Perpetual inventory systems, determine the cost of inventory on hand at March 31 and the cost of goods sold for March under (a) FIFO and (b) average- cost. 29