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Perodic Fifo and perpetual lifo This problem includes the perpetual and periodic inventory systems in connection with FIFO, LIFO and weighted average methods. The bask
Perodic Fifo and perpetual lifo This problem includes the perpetual and periodic inventory systems in connection with FIFO, LIFO and weighted average methods. The bask data are presented below for three years: Year 3-Year 5. There were so units each costing $10 per unit in the beginning inventory at the start of Year 3. Year 3 Year 4 Year 5 Purchases Feb. 600511 Mar. 900514 Jan. 900518 Apr. 509512 May 809516 Aug, 1009519 Sep. 700513 Dec. 50@$17 Oct. 80@$20 Sales Jan. 409522 Feb. 309525 Mar. 900528 Mar. 60@523 Jul. 700$26 Nov. 90@$29 Oct. 900$24 Nov. 800$27 Dec 100@$30 Sales figures for Year 3-Year 5 are 54,420, $4.730 and $8,130. Purchases for the same three years, respectively, are $2,170, $3,390 and $5,120
Perodic Fifo and perpetual lifo
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