Information of Maris Merchandise Entity

January 1 Purchases 10,000 at $1 per unit

January 4 Purchases 13,000 at $1.25 per unit

January 5 Sold 5,000 units

January 10 Sold 8,000 units

January 15 Purchases 10,000 at $1.87 per unit

January 29 Sold 9,000 units

Sold price - $45 per unit. Selling and Administrative Expenses - $150,000. Income Taxes Rate 29%.

Instructions:

Using Perpetual System calculate the Cost of Goods Sold and the Cost of Ending Inventory for the merchandise inventory of X-Mart Merchandise Entity.

Using this title for table of Perpetual System using FIFO, LIFO, MOVING AVERAGE METHOD

MARIs MERCHANDISE ENTITY PERPETUAL FIFO
Date	Purchases			Sold or Issued			Balance
	Units	Cost per Unit	Total Costs	Units	Cost per Unit	Total Costs	Units	Cost per Unit	Total Costs
January 1	10,000	$1	$10,000