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Zoom company uses Perpetual Inventory System. During the month of August, Zoom purchased and sold...

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Accounting

Zoom company uses Perpetual Inventory System. During the month of August, Zoom purchased and sold merchandise on account as follows:

August 1 Beginning inventory 35units @ $10 each

6 Purchase 30 units @ $20 each

15 Sale 40 units @ $60 each

20 Purchase 60 units @ $ 25 each

30 Sale 85 units @ $40 each

Requirement: Using perpetual inventory record for Panda calculate Cost of goods sold using LIFO inventory costing method?

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