Tri Workout Clothing Store uses the perpetual inventory system. Tri Workout has beginning inventory on February 1 of 650 units at $ 72. Data pertaining to the purchases and sales during the month are as follows:

Required
1. Determine the cost of goods sold for February and the cost of the inventory on February 28 by the moving- average- cost method. (Round to two decimal places.)
2. Determine the cost of goods sold for February and the cost of the inventory on February 28 by the last- in, first- outmethod.

Transcribed Image Text:

Purchases Sales Date Units Cost per Unit $75.00 Units Price per Unit Feb. 3 15 85 40 $90.00 90.00 12 18 24 28 30 76.00 60 90.00 40 77.00