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2) Monomaniacs Inc. makes use of a perpetual inventory system for the goods it sells. During January 2021, the following transactions took place (type your
2) Monomaniacs Inc. makes use of a perpetual inventory system for the goods it sells. During January 2021, the following transactions took place (type your answers into the labeled/highlighted cells): Date Transaction # of Units $/Unit 01/02 Beginning Inventory 60 $55 01/05 Purchase #1 52 $58 01/09 Sale #1 55 $105 01/18 Purchase #2 50 $60 01/24 Sale #2 56 $105 01/30 Purchase #3 57 $62 Using the information above and the tables provided in the downloaded template, prepare a perpetual inventory schedule to calculate ending inventory ($) and cost of goods sold based on the following perpetual methods: a) FIFO b) LIFO c) Moving Average 3) For the FIFO table in part a) of Problem 2 above, prepare all journal entries for 01/18 and 01/24. Assume all activity is "on account
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