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Call-Mart Inc. had the following transactions in its first month (March) of operations Date Purchases Sold March 2 2.000 a $5.00 March 15 6,000 @
Call-Mart Inc. had the following transactions in its first month (March) of operations Date Purchases Sold March 2 2.000 a $5.00 March 15 6,000 @ $5.50 March 19 4,000 units March 30 2.000 @ $6.00 Determine the Cost of Goods Sold by using both FIFO and LIFO (for both perpetual and periodic system). Balance 2.000 units 8.000 units 4,000 units 6,000 units 1. FIFO (Perpetual system): 2. LIFO (Perpetual system): 3. FIFO (Periodic system): 4. LIFO (Periodic system)
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