Question - Rosario Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.
|
Date
|
Number of Units
|
Unit Price
|
|
May 7
|
101
|
$10
|
|
July 28
|
60
|
13
|
On June 1, Rosario sold 52 units, and on August 27, 80 more units.
Prepare the perpetual inventory schedule for the above transactions using FIFO.
Prepare the perpetual inventory schedule for the above transactions using LIFO.
Prepare the perpetual inventory schedule for the above transactions using moving-average cost.