Information to be used for Problems 11 and 12 and 13:

Melanies Purple Dress Business uses the Perpetual Inventory System.

Melanies Purple Dress Business purchased and sold the following merchandise in May:

May 1 Purchased 100 dresses at $100 each or $10,000

May 2 Sold 50 dresses from the dresses that were purchased on May 1

May 5 Purchased 100 more dresses at $110 each or $11,000

May 20 Sold 100 more dresses from the dresses that were purchased on May 5

11. Calculate the ending inventory for Melanies Purple Dress Business using the Specific Identification Method

12. Calculate the ending inventory for Melanies Purple Dress Business using the First-In-First-Out or FIFO method

13. Calculate the ending inventory for Melanies Purple Dress Business using the Last-In-Last-Out Method or LIFO method.

For Extra Credit, the ending inventory for Melanies Dress Business using the Weighted Average Method.