LIFO Perpetual Inventory

The beginning inventory at Keats Office Supplies and data on purchases and sales for a three-month period are as follows:

Date Transaction Number of Units Per Unit Total

March 1 Inventory 300 $20 $6,000

10 Purchase 500 $21 10,500

28 Sale 400 35 14,000

30 Sale 250 40 10,000

Apr. 5 Sale 80 40 3,200

10 Purchase 450 22 9,900

16 Sale 250 42 10,500

28 Sale 150 45 6,750

May 5 Purchase 175 24 4,200

14 Sale 160 50 8,000

25 Purchase 150 25 3,750

30 Sale 140 50 7,000