Perpetual FIFO:

Goods Purchased

Cost of Goods Sold

Inventory Balance

Date

# of units

Cost per unit

# of units sold

Cost per unit

Cost of Goods Sold

# of units

Cost per unit

Inventory Balance

January 1

255

@

$12.20

=

$3,111.00

January 10

March 14

March 15

July 30

October 5

October 26

Totals

$0.00

	FIFO:	LIFO:
Sales revenue
Less: Cost of goods sold
Gross margin