EX $6-3$ Perpetual inventory using FIFO

Beginning inventory, purchases, and sales data for DVD players are as follows:

Nov. $1$ Inventory $-140$ units at $$29$

Nov. $10$ Sale $-110$ units

Nov. $15$ Purchase $-150$ units at $$30$

Nov. $20$ Sale $-120$ units

Nov. $24$ Sale $-35$ units

Nov. $30$ Purchase $-140$ units at $$34$

Use the information above to create three tables each using a main stock valuation method $($FIFO$,$ LIFO, AVCO$),$ with each table having Receipts$/$Purchase with Units, CPU, and Value; Issues$/$Sales with Units, CPU, and Value; Stock balance with Units, CPU, and Value. At the end of each table provide the totals for Purchase, COGS, and Closing stock.

Then, construct an income statement table that compares Sales, COGS, Opening inventory, Purchases, Cost of goods available for sale, Closing inventory, and gross profit from the three methods.