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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 following
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. 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. (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. - 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. - Note: On each date, list the inventory units in chronological order based on their purchase date with beginning inventory, if any, listed first. \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|l|}{ FIFO } & \\ \hline & Ending Inventory & 0 \\ \hline & Cost of goods sold $ & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline LIFO & & \\ \hline & Ending Inventory & 0 \\ \hline & Cost of goods sold & 0 \\ \hline \end{tabular}
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