Required 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO,

Aloha Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. (For specific identification, the May 9 sale consisted of 80 units from beginning inventory and 100 units from the May 6 purchase; the May 30 sale consisted of 200 units from the May 6 purchase and 100 units from the May 25 purchase.) Problem 5-3B Perpetual: Alternative cost flows Date Activities Units Acquired at Cost Units Sold at Retail Beginning inventory ......... Purchase.... 150 units @ $300.00 per unit 350 units @ $350.00 per unit Sales .................. 180 units @ $1,200.00 per unit May 1 May 6 May 9 May 17 May 25 May 30 Purchase.... Purchase..... Sales .. 80 units @ $450.00 per unit 100 units @ $458.00 per unit dies . . . . . . . . . . . . . . . . . . . . . . . . . 300 units @ $1,400.00 per unit 480 units Total... 680 units