Perpetual: Inventory costing methods-FIFO AND LIFO

Date Units Sold at Retail Activities Units Acquired at Cost 100 units a $50.00 per unit 400 units @ $55.00 per unit 420 units a $85.00 per unit Mar. 1 Mar. 5 Mar. 9 Mar. 18 Mar. 25 Mar. 29 Beginning inventory ....... Purchase............. Sales ....... Purchase. Purchase.... Sales Totals. ...... 120 units @ $60.00 per unit 200 units @ $62.00 per unit 160 units a $95.00 per unit 580 units 820 units