BobCat purchases and resells plush toys. The toys sell for $20 per unit. Purchase prices of the toys fluctuates. Information relating to inventory purchases and sales is below. In the next questions, you will be asked to calculate COGS, EI and Gross Margin using a periodic system with average, LIFO and FIFO cost flow assumptions and using a perpetual system with FIFO, and LIFO cost flow assumptions.

LIFO Perpetual COGS and Ending Inventories are:

Date	Purchases	Sold	Balance
3/1			1,000 units @ $3.90
3/5	3,000 units @ $4.00		4,000 units
3/15		2,000 @ $20.00	2,000 units
3/20	4,000 units @ $4.20		6,000 units
3/23		3,000 @ $20.00	3,000 units
3/30	1,000 units @ $4.50		5,000 units

20,650; 16,520

20,600; 16,600

20,100; 17,100

21,300; 15,900