Question: Can someone please explain to me how to do LIFO perpetual inventory system?? I have the numbers for this April 1 Balance 400 April 17

Can someone please explain to me how to do LIFO perpetual inventory system??

I have the numbers for this

April 1 Balance 400

April 17 Purchase 200 5.5 cost per unit

April 25 Sale 150

April 28 Purchase 100 5.75 cost per unit

May 5 Purchase 250 5.5 cost per unit

May 18 Sale 300

May 22 Sale 50

The cost of the inventory on April 1 is $5, $4 and $2 per unit.

I have the answer for it but i just dont understand it!

If yiu really want to help you could also explain FIFO perpetual, weighted average and moving average. Thanks!

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