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Alternative Inventory Methods Garrett Company has the following transactions during the months of April and May: Date Transaction Units Cost/Unit April 1 Balance 500 17

Alternative Inventory Methods

Garrett Company has the following transactions during the months of April and May:

Date Transaction Units Cost/Unit
April 1 Balance 500
17 Purchase 200 $5.10
25 Sale 150
28 Purchase 100 5.70
May 5 Purchase 250 5.10
18 Sale 300
22 Sale 50

The cost of the inventory on April 1 is $5, $4, and $2 per unit, respectively, under the FIFO, average, and LIFO cost flow assumptions.

Required:

Compute the costs of goods sold for each month and the inventories at the end of each month for the following alternatives:FIFO periodic

Cost of Goods Sold Ending Inventory
April $ $
May $ $

FIFO perpetual

Cost of Goods Sold Ending Inventory
April $ $
May $ $

LIFO periodic

Cost of Goods Sold Ending Inventory
April $ $
May $ $

LIFO perpetual (Round your intermediate calculations to the nearest cent.)

Cost of Goods Sold Ending Inventory
April $ $
May $ $

Weighted average (Round unit costs to 4 decimal places and final answer to the nearest dollar.)

Cost of Goods Sold Ending Inventory
April $ $
May $ $

Moving average (Round unit costs to 2 decimal places. Round your final answers to nearest dollar.)

Cost of Goods Sold Ending Inventory
April $ $
May $ $

Reconcile the difference between the LIFO periodic and the LIFO perpetual results. If an amount is zero, enter "0".

April Cost of Goods Sold Ending Inventory
Difference $ $
May Cost of Goods Sold Ending Inventory
Difference $

$ I just need the weighted average and moving average please thanks!

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