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Perpetual System Calculating Ending Inventory and Cost of Sales using Moving Average, FIFO, and LIFO April Inc. maintains a perpetual inventory system and recorded the

Perpetual System Calculating Ending Inventory and Cost of Sales using Moving Average, FIFO, and LIFO

April Inc. maintains a perpetual inventory system and recorded the following information for the month of January.

Date Units Unit Cost
Inventory, January 1 1,425 $10.50

Purchase, January 10

600 12.00
Purchase, January 20 300 13.25
Purchase, January 28 900 14.00
Sale, January 5 750
Sale, January 13 300
Sale, January 31 480
Inventory, January 31 1,695

Required

Compute ending inventory and cost of goods sold for the month ending January 31 using the method indicated below.

Note: Round your final answers to the nearest dollar.

Note: Do not round costs per unit in your calculations.

Ending Inventory Cost of Goods Sold
1. Moving average method $. ? $. ?
2. FIFO method $. ? $. ?
3. LIFO method $. ? $. ?

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