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Sheffield Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7
Sheffield Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 55 $10 July 28 30 13 On June 1, Sheffield sold 25 units, and on August 27, 47 more units. Prepare the perpetual inventory schedule for the above transactions using FIFO. Date Purchases May 7 June 1 July 28 Aug. 27 Product E2-D2 Cost of Goods Sold $ $ S Balance Prepare the perpetual inventory schedule for the above transactions using LIFO. Product E2-D2 Cost of Goods Sold Date Purchases May 7 June 1 $ July 28 $ $ $ Aug. 27 $ EA Balance $ Prepare the perpetual inventory schedule for the above transactions using moving-average cost. (Round average-cost per unit to 3 decimal places, eg. 12.50 and final answers to O decimal places, e.g. 1,250.) Date May 7 June 1 TA Purchases EA July 28 Aug. 27 SA Product E2-D2 Cost of Goods Sold Balance DA tA EA SA 67
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