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

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The following transactions happened for a retailer in January: Date # of Units Cost per Unit Transaction Beginning Inventory Purchase Sale Purchase Sale 1/1 1/8 1/12 1/29 1/30 $7 $8 300 450 350 750 550 $9 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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