Accounting 1A Chapter 6 - Inventories Inventory Calculations Practice Problems 1 The company uses the perpetual inventory system. Inventory Costing Methods - Perpetual Inventory System Date Units Unit Cost 7/1/2021 Beginning Inventory 0 7/5/2021 Purchase 5,000 units at $100 7/15/2021 Sale 1 500 7/20/2021 Purchase 400 units at $105 7/23/2021 Sale 2 1,000 7/25/2021 Purchase 800 units at $110 7/30/2021 Sale 3 1,200 Total Cost of Merchandise Purchased During the Month Total Number of Units Available During the Month Total Units Sold During the Month Total Units in Ending Inventory at July 31 Cost of Ending Inventory under FIFO Cost of Goods Sold for the Month Under FIFO Cost of Ending Inventory Under LIFO Cost of Goods Sold for the Month Under LIFO