69 70 3. A record of transactions for the month of May was as follows: Purchases Sales 1-May (balance) 400 @ $4.20 3-May 200 @ $7.00 4 1,300 @ $4.10 6 1,000 @ 7.00 8 800 @ $4.30 12 900 @ 7.50 14 700 @ $4.40 18 400 @ 7.50 22 1,200 @ $4.50 25 1,400 @ 8.00 29 500 @ $4.55 79 Assuming that perpetual inventory records are kept in dollars, determine the ending inventory and the cost of goods sold using: 80 81 a. LIFO Ending Inventory Cost of Goods Sold # of Units/Cost per Unit Total $ # of Units/Cost per Unit Total $ 91 b. FIFO Ending Inventory # of Units/Cost per Unit Cost of Goods Sold # of Units/Cost per Unit Total $ Total $ 100 101 C. Moving average, use 2 decimal places 102 Date Purchases Units/Price Per Unit Upier Urnice Sales Units Price per Unit 103 104 Total 105 107 109 110 111 B Units/Price Per Unit Price per Unit Date Purchases Sales Units Total Total Cost of Goods Sold Balance in Ending Inventory