CoronadoDepartment Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.

Date Number of Units Unit Price

May 7 50 $10

July 28 30 14

On June 1,Coronadosold27units, and on August 27,42more units.

Prepare the perpetual inventory schedule for the above transactions using FIFO.

Product E2-D2

Date Purchases Cost of Goods Sold Balance

May 7 $? $ ? $?

June 1 $? $? $?

June 28 $? $? $?

Aug. 27 $? $? $?

b). Prepare the perpetual inventory schedule for the above transactions using LIFO.