Question
Whispering Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Price May 7 46
Whispering Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.
Date | Number of Units | Unit Price | ||
May 7 | 46 | $10 | ||
July 28 | 30 | 13 |
On June 1, Whispering sold 28 units, and on August 27, 38 more units.
Prepare the perpetual inventory schedule for the above transactions using FIFO.
Product E2-D2 | ||||||
Date | Purchases | Cost of Goods Sold | Balance | |||
May 7 | $ | $ | $ | |||
June 1 | $ | $ | $ | |||
July 28 | $ | $ | $ | |||
Aug. 27 | $ | $ | $ |
eTextbook and Media
Prepare the perpetual inventory schedule for the above transactions using LIFO.
Product E2-D2 | ||||||
Date | Purchases | Cost of Goods Sold | Balance | |||
May 7 | $ | $ | $ | |||
June 1 | $ | $ | $ | |||
July 28 | $ | $ | $ | |||
Aug. 27 | $ | $ | $ |
eTextbook and Media
Prepare the perpetual inventory schedule for the above transactions using moving-average. (Round average cost per unit to 2 decimal places, e.g. 1.28 and final answers to 0 decimal places, e.g. 5,125.)
Product E2-D2 | ||||||
Date | Purchases | Cost of Goods Sold | Balance | |||
May 7 | $ | $ | $ | |||
June 1 | $ | $ | $ | |||
July 28 | $ | $ | $ | |||
Aug. 27 | $ | $ | $ |
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