Perpetual FIFO:

Goods Purchased

Cost of Goods Sold

Inventory Balance

Date

# of Units

Cost Per Unit

Goods Purchased

# of Units Sold

Cost Per Unit

Cost of Goods Sold

# of Units

Cost Per Unit

Inventory Balance

December 7

16

@

$10.00

=

$160.00

December 14

33

@

$15.00

=

$495.00

December 15

26

@

$25.00

=

$650.00

December 21

26

@

$18.00

=

$468.00

Totals

$650.00