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19. Perpetual FIFO and LIFO. (18 POINTS) A record of transactions for the month of May was as follows: Purchases Purchases Sales Units May 1

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19. Perpetual FIFO and LIFO. (18 POINTS) A record of transactions for the month of May was as follows: Purchases Purchases Sales Units May 1 (balance) 6,000 @ 58 Amount Units $48.000 May 5 3,000 5,000 @ $9 45,000 12 2,000 18 6.000 @ S10 60.000 20 4,000 Total 17,000 $153,000 10 Ending inventory - 8,000 units. Assuming that perpetual inventory records are kept in dollars, determine (1) cost of goods available for sale. AND G2) the ending inventory balances using FIFO and LIFO. (Show calculations) LO Cost of goods available for sale (2a) FIFO - ending inventory S (2b)LIFO - ending inventory Page 15 of 18

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