Question: Jensens Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. On June 1 Jensens sold 30 units, and on

Jensen’s Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.

Number of Units Unit Date May 7 July 28 Price $10 13 50 30

On June 1 Jensen’s sold 30 units, and on August 27, 40 more units. Prepare the perpetual inventory schedule for the above transactions using (1) FIFO, (2) LIFO, and (3) moving-average cost.

Number of Units Unit Date May 7 July 28 Price $10 13 50 30

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