Perpetual SystemCalculating 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	380	$10.50
Purchase, January 10	160	12.00
Purchase, January 20	80	13.25
Purchase, January 28	240	14.00
Sale, January 5	200
Sale, January 13	80
Sale, January 31	128
Inventory, January 31	452

Compute ending inventory and cost of goods sold for the month ending January 31 using the (1) Moving average method, (2) FIFO method, (3) and the LIFO method.

• Moving average
• FIFO
• LIFO

(2) LIFO Method Note: Do not use negative signs with any of your answers. Note: On each date, list the inventory units in chronological order based on their purchase date with beginning inventory, if any, listed first.

LIFO Perpetual
	Purchases			Cost of Sales			Inventory Balance
		Unit	Total		Unit	Total		Unit	Total
Date	Units	Cost	Cost	Units	Cost	Cost	Units	Cost	Cost
January 1							Answer	Answer
January 5				Answer	Answer		Answer	Answer
January 10	Answer	Answer					Answer	Answer
							Answer	Answer
January 13				Answer	Answer		Answer	Answer
							Answer	Answer
January 20	Answer	Answer					Answer	Answer
							Answer	Answer
							Answer	Answer
January 28	Answer	Answer					Answer	Answer
							Answer	Answer
							Answer	Answer
							Answer	Answer
January 31				Answer	Answer		Answer	Answer
							Answer	Answer
							Answer	Answer
							Answer	Answer

LIFO
	Ending Inventory	Answer
	Cost of goods sold	Answer