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Waterway Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 45

Waterway Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.

Date

Number of Units

Unit Cost

May 7

45 $13

July 28

30 16

On June 1, Waterway sold 25 units, and on August 27, 41 more units.

(a)

Prepare the perpetual inventory schedule for the above transactions using FIFO.

Product E2-D2

Date

Purchases

Cost of Goods Sold

Balance

May 7

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

June 1

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

July 28

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

Aug. 27

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

(b)

Prepare the perpetual inventory schedule for the above transactions using LIFO.

Product E2-D2

Date

Purchases

Cost of Goods Sold

Balance

May 7

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

June 1

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

July 28

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

Aug. 27

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

(c)

Prepare the perpetual inventory schedule for the above transactions using moving-average cost. (Round average-cost per unit to 3 decimal places, e.g. 12.50 and final answers to 0 decimal places, e.g. 1,250.)

Product E2-D2

Date

Purchases

Cost of Goods Sold

Balance

May 7

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

June 1

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

July 28

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

Aug. 27

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

please help me solve questions a, and c using the above transaction.

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