Question
Can someone please explain to me how to do LIFO perpetual inventory system?? I have the numbers for this April 1 Balance 400 April 17
Can someone please explain to me how to do LIFO perpetual inventory system??
I have the numbers for this
April 1 Balance 400
April 17 Purchase 200 5.5 cost per unit
April 25 Sale 150
April 28 Purchase 100 5.75 cost per unit
May 5 Purchase 250 5.5 cost per unit
May 18 Sale 300
May 22 Sale 50
The cost of the inventory on April 1 is $5, $4 and $2 per unit.
I have the answer for it but i just dont understand it!
If yiu really want to help you could also explain FIFO perpetual, weighted average and moving average. Thanks!
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1032078251, 978-1032078250
