Jun.	1	Beginning merchandise inventory	16	units @	$17	each
	12	Purchase	4	units @	$18	each
	20	Sale	8	units @	$31	each
	24	Purchase	17	units @	$20	each
	29	Sale	18	units @	$31	each

Requirements

1.	Compute ending merchandise inventory, cost of goods sold, and gross profit using the FIFO inventory costing method.
2.	Compute ending merchandise inventory, cost of goods sold, and gross profit using the LIFO inventory costing method.
3.	Compute ending merchandise inventory, cost of goods sold, and gross profit using the weighted-average inventory costing method.

		Requirement 1.
		FIFO
Plus:
Less:
Cost of goods sold

PERPETUAL METHOD