Bright Company inventory records provide the following information:

Units Unit Total

Cost Cost

Units on hand, July 1 100 $4 $400

Purchases:

July 11 40 5 200

17 60 6 360

27 50 7 350

1. Total goods available for sale 250 $1,310

Units

Sales:

July 10 50

20 30

29 40

2. Total units sold 120

3. Inventory, July 31 130

Required:

Compute ending inventory and cost of goods sold using the following methods:

Ending Inventory Cost of goods Sold

a. Periodic FIFO ________________________________________

b. Periodic LIFO _________________________________________

c. Periodic Weighted Average ___________________________________

Compute ending inventory and cost of goods sold using the following methods:

Ending Inventory Cost of goods Sold

a. Perpetual FIFO ________________________________________

b. Perpetual LIFO _________________________________________

c. Perpetual Moving Average ___________________________________