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a.)Zimmerman Corp. had 1,500 units of part M.O. on hand May 1, 2010, costing $21 each. Purchases of part M.O. during May were as follows.
a.)Zimmerman Corp. had 1,500 units of part M.O. on hand May 1, 2010, costing $21 each. Purchases of part M.O. during May were as follows. Units Unit Cost May 9 2,000 $22.00 May 17 3,500 $23.00 May 26 1,000 $ 24.00
A physical count on May 31, 2010, shows 2,000 units of part M.O. on hand. Calculate ending inventory AND COGS under FIFO, LIFO, and moving average, but do it using the Perpetual method. NOTE: assume that on 5/20 there were 4,500 units sold at retail for $30.
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