Calculating the Value of Ending Inventory and Cost of Goods Sold: Perpetual Method
	Total Units	Unit Cost	Total Cost			Total Units	Unit Cost	Total Cost
Beginning inventory on hand					Beginning inventory on hand
1-Jan	60,000	$ 2.00	$ 120,000		1-Jan	60,000	$ 2.00	$ 120,000
Purchases during month					Purchases during month
5-Jan	103,600	$ 2.00	$ 207,200		5-Jan	103,600	$ 2.00	$ 207,200
20-Jan	293,900	$ 2.10	$ 617,190		20-Jan	293,900	$ 2.10	$ 617,190
Sales of inventory					Sales of inventory
25-Jan	383,900				25-Jan	383,900
Beginning inventory at					Beginning inventory at
1-Feb	73,600				1-Feb	73,600
Purchases during month					Purchases during month
8-Feb	282,200	$ 2.20	$ 620,840		8-Feb	282,200	$ 2.20	$ 620,840
23-Feb	153,500	$ 2.60	$ 399,100		23-Feb	153,500	$ 2.60	$ 399,100
Sales of inventory					Sales of inventory
27-Feb	407,600				27-Feb	407,600
Ending Inventory	101,700				Ending Inventory	101,700
FIFO					LIFO
Jan		Feb			Jan		Feb
Cost of goods sold		Cost of goods sold			Cost of goods sold		Cost of goods sold
Ending inventory		Ending inventory			Ending inventory		Ending inventory