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The following transactions happened for a retailer in January: Date Transaction # of Units Cost per Unit 1/1 Beginning Inventory 300 $7 1/8 Purchase 450

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The following transactions happened for a retailer in January: Date Transaction # of Units Cost per Unit 1/1 Beginning Inventory 300 $7 1/8 Purchase 450 $8 1/12 Sale 350 1/29 Purchase 750 $9 1/30 Sale 550 Required Calculate cost of goods sold and ending inventory for the following cost flow assumptions (perpetual inventory system): 1. LIFO; 2. FIFO; 3. Average Cost

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