The Breeze trading company discloses the following information for the month of August 2020. 

 

 Assume the Breeze trading company uses perpetual inventory system, compute cost of goods sold (COGS), ending inventory and Ending Inventory using:

(a) FIFO 

(b) LIFO 

(C) Weighted Average 

(D) Provide Journal Entries for one of those methods.

Aug. 01 Purchases: Aug. 10 Sales: Aug. 11 Aug. 15 Aug. 20 Aug. 27 Sales: Purchases: Sales: Purchases: 600 units @ $5 each 400 units @ $12 each 1,600 units @ $6 1000 units @ 12.50 1000 units @ $6.50 600 units @ $13.50