Amber Company uses a perpetual inventory system. From the following information, prepare an inventory record form
(a) Assuming that the FIFO method is in use
(b) Assuming that the LIFO method is in use.
Assume on January 1, 201X, a beginning inventory of 794 units at a cost of $10each.

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Received Sold Quaity Cost per Unit Date Date Apr. 15 Nov. 12 Dec. 31 228 804 694 Quantity 504 348 398 $12 Mar. 8 Oct. 5 Nov. 30