1. Download the general journal paper or use regular paper and record all the transactions for the month of April using the perpetual inventory system for all 3 valuation methods; FIFO, LIFO, and Moving Average Cost. You can have three (3) separate pages, one (1) for each valuation method, or identify and complete for one valuation method, then label the next one and complete, followed by the third.
2. Download the T account paper, set up T accounts for Inventory and Cost of Goods Sold, for each valuation method (you will have six (6) in total), post the entries from the journals, and determine the ending balances as of April 30.
3. Note the different balances for each method in Inventory and Cost of Goods Sold.

Journalize each transaction: April 1- We buy 4 items at 10cents per item, terms 2/10,n/30. April 3- We sell 2 items for $1.00 per item for cash. April 6- We buy 4 items at 12 cents per item, terms 2/10, n/30. April 12- We sell 3 items at $1.00 per item for cash. April 20- We buy 4 items at 15 cents per item, terms 2/10, n/30. April 27- We sell 5 items at $1.00 per item for cash. What is ending inventory and cost of goods sold in both perpetual and periodic systems, using FIFO, LIFO and Average Cost methods