3. Perpetual SystemCalculating Ending Inventory and Cost of Sales Using Moving Average, FIFO, and LIFO April Inc. maintains a perpetual inventory system and recorded the following information for the month of January.

Date	Units	Unit Cost
Inventory, January 1	380	$10.50
Purchase, January 10	160	12.00
Purchase, January 20	80	13.25
Purchase, January 28	240	14.00
Sale, January 5	200
Sale, January 13	80
Sale, January 31	128
Inventory, January 31	452

Compute ending inventory and cost of goods sold for the month ending January 31 using the (1) Moving average method, (2) FIFO method, (3) and the LIFO method.

(1) Moving average method Note: Enter the answers for unit cost in dollars and cents, rounded to the nearest penny. Use the rounded amounts for later calculations. Note: Do not use negative signs with any of your answers.

Moving-average method
		Purchases	Cost of Sales	Inventory Balance
			Unit	Total		Unit	Total		Unit	Total
	Date	Units	Cost	Cost	Units	Cost	Cost	Units	Cost	Cost
	January 1							380	$10.50	$3,990
	January 5
	January 10
	January 13
	January 20
	January 28
	January 31

	Moving Average
	Ending Inventory
	Cost of goods sold

(2) FIFO Method Note: Do not use negative signs with any of your answers. Note: On each date, list the inventory units in chronological order based on their purchase date with beginning inventory, if any, listed first.

FIFO Perpetual
	Purchases	Cost of Sales	Inventory Balance
		Unit	Total		Unit	Total		Unit	Total
Date	Units	Cost	Cost	Units	Cost	Cost	Units	Cost	Cost
January 1
January 5
January 10
January 13
January 20
January 28
January 31

FIFO
	Ending Inventory
	Cost of goods sold

(2) LIFO Method Note: Do not use negative signs with any of your answers. Note: On each date, list the inventory units in chronological order based on their purchase date with beginning inventory, if any, listed first.

LIFO Perpetual
	Purchases	Cost of Sales	Inventory Balance
		Unit	Total		Unit	Total		Unit	Total
Date	Units	Cost	Cost	Units	Cost	Cost	Units	Cost	Cost
January 1
January 5
January 10
January 13
January 20
January 28
January 31

LIFO
	Ending Inventory
	Cost of goods sold