Brief Exercise 6-10 a-c

Sunland Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.

Date

Number of Units

Unit Price

May 7

50

$10July 28

30

15

On June 1, Sunland sold20units, and on August 27,40more units.

Prepare the perpetual inventory schedule for the above transactions using moving-average cost

Need August 27th cost of goods sold and balance