Lily Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.

Date		Number of Units		Unit Price
May 7		50		$11
July 28		30		15

On June 1, Lily sold 20 units, and on August 27, 40 more units.

(a)

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Prepare the perpetual inventory schedule for the above transactions using FIFO. (Round answers to 0 decimal places, e.g. 1,250.)

Product E2-D2
Date		Purchases		Cost of Goods Sold		Balance
May 7		$		$		$
June 1		$		$		$
July 28		$		$		$
Aug. 27		$		$		$