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Some of the information found on a detail inventory card for Diallo Inc. for the first month of operations follows. Units Date Unit Cost
Some of the information found on a detail inventory card for Diallo Inc. for the first month of operations follows. Units Date Unit Cost Units Sold Balance Purchased August 1 1,300 $4.38 1,300 7 800 500 10 700 4.67 1,200 13 600 600 18 1,100 4.82 400 1,300 20 1,100 200 23 1,400 4.96 1,600 26 900 700 28 1,700 5.11 2,400 31 1,400 1,000 If the perpetual inventory records are kept in dollars, and costs are computed at the time of each withdrawal, compute ending inventory and cost of goods sold at August 31, showing all calculations as formulas in Excel and using (a) the FIFO method, (b) the LIFO method, (c) the moving-average method (displaying all unit cost amounts using four decimal places).
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