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Sheffield Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.
May 7 number of units 55 @ $10 unit cost
July 28 number of units 30 @ $13 unit cost
On June 1, Sheffield sold 25 units, and on August 27, 47 more units
(A)
Prepare the perpetual inventory schedule for the above transactions using FIFO.
(B)
Prepare the perpetual inventory schedule for the above transactions using LIFO.
(C)
Prepare the perpetual inventory schedule for the above transactions using moving-average-cost. (Round average-cost per unit to 3 decimal places)
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