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Monomaniacs Inc. makes use of a perpetual inventory system for the goods it sells. During January 2021, the following transactions took place: 55 50 56

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Monomaniacs Inc. makes use of a perpetual inventory system for the goods it sells. During January 2021, the following transactions took place: 55 50 56 48 Date Type of Transaction Number of Units Amount Per Unit January 2 Beginning Inventory 63 $50.00 January 5 Purchase 52 $51.00 January 9 Sale $96.00 January 18 Purchase $52.00 January 24 Sale $96.00 January 30 Purchase $53.00 Required: Use the information above to produce a 9-column perpetual inventory schedule of merchandise activity in January, 2021. When complete, circle or highlight the ending inventory, as well as the cost of goods sold for each of the two tables you will complete, based on the following perpetual methods: a) LIFO b) Moving Average Go back to Problem 2, and for the LIFO table you created in part (a)), produce all general journal entries for January 18 and January 24. (assume all activity is on account"-three entries in all)

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