The units of an item available or sale during the year were as follows jan 1 inventory 27 units at 600 Feb 4 purchase 54 units at 690 aug 21 purchase 63 units at 780 Oct 23 purchase 56 units at 825 Use the information in this exercise, but assume an April 12th sale of 70 units, a September 10th sale of 70 units, and that there were 60 units in the December 31st physical inventory.
Use the perpetual inventory method. -How much is cost of goods sold for the year under FIFO, LIFO and Moving Average? -What is the cost of ending inventory on December 31st under FIFO, LIFO and Moving Average? (please Show supporting calculations