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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 |
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Assume perpetual inventory system to record above transactions with the use of following methods.
- FIFO
- LIFO
- Average Cost
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