Perpetual System-Calculating Ending Inventory and Cost of Sales using Moving Average, FIFO, and LIFO April...
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Perpetual System-Calculating Ending Inventory and Cost of Sales using Moving Average, FIFO, and LIFO April Inc. maintains a perpetual inventory system and recorded the following information for the month of January Date Units Unit Cost Inventory, January 11,425 $10.50 Purchase, January 10 600 12.00 Purchase, January 20 300 13.25 Purchase, January 28 900 14.00 Sale, January 5 750 Sale, January 13 300 Sale, January 31 480 Inventory, January 31 1,695 Required Compute ending inventory and cost of goods sold for the month ending January 31 using the method indicated below. Note: Round your final answers to the nearest dollar Note: Do not round costs per unit in your calculations Ending Inventory COGS 1. Moving average methods 2. FIFO method 3. LIFO method Save Answers
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