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perch company reported the following purchases and sales for its only product. Perch uses a perpetual inventory system. Determine the cost assigned to cost of

perch company reported the following purchases and sales for its only product. Perch uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using both LIFO and FIFO

Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 150 units @ $10.00 May 5 Purchase 220 units @ $12.00 May 10 Sales 140 units @ $20.00 May 15 Purchase 100 units @ $13.00 May 24 Saled 150 units @ $21.00

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