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	1425	$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	1695

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

(1) Moving average method Note: Enter the answers for unit cost in dollars and cents, rounded to the nearest penny. Use the rounded amounts for later calculations. Note: Do not use negative signs with any of your answers.

Moving-average method
		Purchases			Cost of Sales			Inventory Balance
			Unit	Total		Unit	Total		Unit	Total
	Date	Units	Cost	Cost	Units	Cost	Cost	Units	Cost	Cost
	January 1							1,425	$10.50	$14,963
	January 5				Answer	Answer		Answer	Answer
	January 10	Answer	Answer					Answer	Answer
	January 13				Answer	Answer		Answer	Answer
	January 20	Answer	Answer					Answer	Answer
	January 28	Answer	Answer					Answer	Answer
	January 30				Answer	Answer		Answer	Answer

	Moving Average
	Ending Inventory	Answer
	Cost of goods sold	Answer