Question: Cheyenne Corp. uses a perpetual inventory system. Data for product E2-D2 include the following purchases. May 7 125 (units) $11 (price) July 28 75 (units)

Cheyenne Corp. uses a perpetual inventory system. Data for product E2-D2 include the following purchases.

May 7 125 (units) $11 (price)

July 28 75 (units) $18 (price

On June 1, Cheyenne sold65units, and on August 27,100more units.

  1. Prepare the perpetual inventory schedule for the above transactions using FIFO.(Round answers to 0 decimal places, e.g. 1,250.)
  2. Prepare the perpetual inventory schedule for the above transactions using LIFO.(Round answers to 0 decimal places, e.g. 1,250.)
  3. Prepare the perpetual inventory schedule for the above transactions using moving-average cost.(Round average-cost per unit to 2 decimal places, e.g. 12.50 and final answers to 0 decimal places, e.g. 1,250.)

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