E$7-17($Algo$)($Supplement $7$A$)$ Calculating Cost of Ending Inventory and Cost of Goods Sold under Perpetual FIFO and LIFO $[$LO $7-$S$1]$

$2$

points

Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method perpetually at the time of each sale, as if it uses perpetual inventory system. Assume Oahu Kiki's records show the following for the month of January. The company sold $300$ units between January $16$ and $23.$

$\backslash$table$[[,$Date,Units,Unit Cost,Total Cost$],[$Beginning Inventory,January $1,200,$$$70,$$$14,000$