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Loggins Department Store uses a perpetual inventory system. Data for product E2-D2 includes the following purchases. Date Number of Units Unit Price 50 $10 July
Loggins Department Store uses a perpetual inventory system. Data for product E2-D2 includes the following purchases. Date Number of Units Unit Price 50 $10 July 28 30 15 May 7 On June 1, Loggins sold 25 units, and on August 27, 30 more units. (a) Your answer is correct. Calculate the average cost of the goods sold in the sale. (Round answers to 3 decimal places, eg. 5.125) June 1 sale: $ 10 Aug. 27 sale: $ 12.727 x Your answer is incorrect. Compute the cost of goods sold using FIFO, LIFO, and average-cost. (Round answers to O decimal places, eg. 125.) FIFO Cost of goods sold $ LIFO 1580 $ AVERAGE-COST 2720 $ 2694.10
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