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Do all the three questions please E62 E63 and E64 E6-2 Elmo's Music carries a large inventory of guitars and other musical instruments. The store

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Do all the three questions please E62 E63 and E64

E6-2 Elmo's Music carries a large inventory of guitars and other musical instruments. The store uses the FIFO method and a perpetual inventory system. Company records indicate the following for a particular line of guitars that sell for $1,600 each: Measuring ending inventory and cost of goods sold in a perpetual system-FIFO Cost of goods sold, 56,160 Quantity Unit Cost $900 Date May 1 6 8 17 30 Item Balance Sale Purchase Sale Purchase 840 3 10 4 5 840 Required Prepare a perpetual inventory record for the guitars. Then determine the amounts Elmo's Music should report for ending inventory and cost of goods sold under the FIFO method. Recording perpetual inventory transactions E6-3 After preparing the FIFO perpetual inventory record in E6-2, journalize Elmo's Music's May 8 purchase of inventory on account and the cash sale on May 17. E64 Refer to the Elmo's Music inventory data in E6-2, except assume that the store uses the moving-weighted average-cost method. Prepare Elmo's Music Store's perpetual inventory record for the guitars on the moving-weighted average-cost basis. Round average cost per unit to the nearest cent and all other amounts to the nearest dollar. Aopying the moving w average cost method perpetual inventory sys Cost of goods sold 56.100 E6-5 Lally Company accounting records vield the following date for ab

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