PERPETUAL INVENTORY SYSTEM

equirement 1. Assuming FIFO inventory costing, determine the cost of ending inventory: Data Table Units equirement 2. Assuming LIFO inventory costing, determine cost of goods sold for the year Transaction Unit Cost 17.70 Beginning inventory 1/1 3,800 Purchases, January 23 4,600 16.20 Purchases, February 14 16.90 1,000 Purchases, March 17 2,400 17.90 Units Sold-April 13 at $22 9,800 Purchases, May 5 5,000 15.30 Purchases, July 4 3,600 16.50 Units Sold - October 31 at $21 8,100 Purchases, November 22 1,600 15.10 Print Done