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Moving Average, FIFO, LIFO. Arthur Lloyd Associates provided the following information regarding its inventory for the current year, its second year of operations. Transaction Units

Moving Average, FIFO, LIFO. Arthur Lloyd Associates provided the following information regarding its inventory for the current year, its second year of operations.

Transaction Units Sales in Units Unit Cost Total Cost
Beginning inventory 1/1 10,000 $18 $ 180,000
Purchases
February 8 23,000 20 460,000
March 15 18,600 22 409,200
Subtotal 51,600 $1,049,200
Units SoldApril 2 at $41 49,500
April 30 37,000 28 1,036,000
July 15 12,400 31 384,400
Subtotal 101,000 $2,469,600
Units SoldSeptember 1 at $47 26,000
November 9 34,500 29 1,000,500
Total available for sale 135,500 $3,470,100
Total units sold (75,500)
Ending inventory 60,000

Required

Compute Arthur Lloyd's ending inventory and cost of goods sold under each of the following cost-flow methods assuming the company uses a perpetual inventory system (round your answer for cost per unit to two decimal places):

a. Moving Average

In Excel Format

Transaction Unit Purchased Unit Cost Cumulative Units Cost Cumulative Cost Average Cost Per Unit

b. FIFO

In Excel Format

Transaction Unit Purchased Unit Cost Total Cost Units Sold Cost of Good Sold Per Unit Cost of Goods Sold

c. LIFO

In Excel Format

Transaction Unit Purchased Unit Cost Total Cost Units Sold Cost of Good Sold Per Unit Cost of Goods Sold

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