Assume Time $2$ Shop began October with an inventory of $24$ smart watches that cost $$54$ each. Time $2$ Shop sells them for $$130$ each. During October, Time $2$ Shop bought and sold inventory as follows.

$($i$)($Click the icon to view the transactions.$)$

Prepare a perpetual inventory record for Time $2$ Shop under each method.

FIFO

Moving$-$weighted$-$average cost

Transactions

$\backslash$table$[[$Watches$],[,$Cost of Goods Sold$],[,$Quantity,Unit Cost,Total Cost$],[$October $3,1$ C$,54,2,470],[$October $23,23,130,2,990],[$Ending$,$IIII,$16162|0|,\backslash$table$[[5,460]]]]$

October $3$

Sold $19$ smart watches for $$130$ each.

October $16$

Purchased $27$ smart watches at $$67$ each.

October $23$

Sold $23$ smart watches for $$130$ each.