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Seminole Company record of transaction for the month of January 2019 was as follows Date Purchased in units Rate $ Date Sales in Units Rate

Seminole Company record of transaction for the month of January 2019 was as follows

Date

Purchased in units

Rate $

Date

Sales in Units

Rate $

01-01-19

600

6

03-01-19

500

10

04-01-19

1500

6.8

09-01-19

1300

10

08-01-19

800

6.4

11-01-19

600

11

13-01-19

1200

6.5

23-01-19

1200

11

21-01-19

700

6.6

27-01-19

900

12

29-01-19

500

6.79

Assume perpetual inventory system to record above transactions with the use of following methods.

  1. FIFO
  2. LIFO
  3. Average Cost

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