Knights Watch uses a perpetual inventory system for keeping track of its watch inventory. The following is a schedule of its purchases and sales throughout the month of March. (Ch. 6) Date March 1 March 3 March 10 March 14 March 20 March 25 March 30 Transaction Beginning inventory Purchase Purchase Sale Sale Purchase Sale Number of units 200 100 150 250 100 100 50 Cost per unit $15 20 10 ?? ?? 17 ?? Required a) Determine the COGS and ending inventory if Knights Watch used perpetual FIFO. b) Determine the COGS and ending inventory if Knights Watch used perpetual average cost.

Knights Watch uses a perpetual inventory system for keeping track of its watch inventory. The following is a schedule of its purchases and sales throughout the mnnth . track of its watch in in ai Required a) Determine the COGS and ending inventory if Knights Watch used perpetual FIFO. b) Determine the COGS and ending inventory if Knights Watch used perpetual average cost