Assume that ABC Company uses a perpetual inventory system. The company has the same inventors, purchase and sales data for the month of March as shown below: 

Inventory: March 1 200units@$4.00 $800 

Purchase: March 1 500units@$4.50 $2250 

March 1 500units@$4.50 $2250 

March 1 400units@$4.75 $1900 

March 1 300units@$5.00 $1500

Sale: 

March 1 500units 

March 1 400units 

The physical inventory counts on March 31 shows 500 units on hand. Under the perpetual inventory system determine the cost of inventory on hand at march 31 and the cost of goods sold for march under the first-in , first-out, last-in first-out and average cost method.            

Answer rating: 100% (QA)

ANSWER Cost of inventory on hand at march 31 and the cost of good... View the full answer