sing the Funerpetual Method, compute the Liam B D G M N o Problem 1 - Complete the inventory Valuation Computation Schedule using the FIFO Perpetual Method, compute the LIFO amounts, and then compare the two by filling in this worksheet. See example in Zoom Meeting Lecture on Chapter 6. 3 4 FIFO Perpetual Method Inventory Remaining Purchased Cost of Units In! Inventory 5 Date Units Unit Cost Units Sold Unit Cost Goods Sold Stock Unit Costs $ Balance 6 June 1 550 $8 Balance Inventory 8 June 4 175 $14 Debes Credits 9 10 Balance purchases amb 11 lune 6 350 persed 12 to coas 13 Balance 14 June 18 300 $16 blanc 15 von 16 17. Balance 10 June 26 200 19 175 20 21 Balance 22 23 Summarize the information in the schedule 24 FO Compute the effect on the financial statements Units Amount fung IFO Bal Sheet COGS Nota come Homework Problem Worksheet Cather Gewel SUND 175 25 Balance 3 Summarize the information in the schedule. 4 FIFO Amount Units Compute the effect on the financial statements if using LIFO Bal. Sheet COGS Diff./Effect 5 26 Total Purchased 27 Less Total Sold 28 Inventory In Stock Net Income 30 31 Compute the LIFO ending Inventory balance using the periodic method. 32 LIFO Inventory COGS 33 Units Price Amount Amount 34 35 36 Homework Problem Worksheet Ready CUsersthermo O Blockhand Home Get Homework Hel SAMSUNG