Inventory Costing Methods Perpetual Inventory System

Date		Units		Unit Cost
July 1	Beginning Inventory	0
July 5	Purchase	5,000	units at	$100
July 15	Sale 1	500
July 20	Purchase	400	units at	$105
July 23	Sale 2	1,000
July 25	Purchase	800	units at	$110
July 30	Sale 3	1,200

1. Total Cost of Merchandise Purchased during the month

2. Total Number of Units Available during the month

3. Total Units Sold during the month

4. Total Units in Ending Inventory at July 31

5. Cost of Goods Sold for the month under FIFO

6. Cost of Ending Inventory under FIFO

7 Cost of Goods Sold for the month under LIFO

8 Cost of the Ending Inventory under LIFO