Question: Concord Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7

Concord Department Store uses a perpetual inventory system. Data for product E2-D2

Concord Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 July 28 45 30 $13 15 On June 1, Concord sold 25 units, and on August 27, 45 more units. (a) Prepare the perpetual inventory schedule for the above transactions using FIFO. Date May 7 $ June 1 $ Purchases $ $ Product E2-D2 Cost of Goods Sold Balance $ $ July 28 $ $ $

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