Chapter 5 Periodic/Perpetual Inventory Methods 1. Bright Company inventory records provide the following information Unit Cost Units Total Cost Units on hand, July 1 Purchases July 11 17 100 40 200 360 27 350 1. Total goods available for sale 250 Units Sales 50 30 July 10 20 29 2 Total units sold 130 3. Inventory, July 31 Compute ending inventory and cost of goods sold using the following methods Ending Inventory 1. 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 2 a. Perpetual FIFO b Perpetual LIFO c Perpetual Moving Average