Question: Loggins Department Store uses a perpetual inventory system. Data for product E2-D2 includes the following purchases. Date Number of Units Unit Price May 7 50

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

Date

Number of Units

Unit Price

May 7

 50 $10

July 28

 30 15

On June 1, Loggins sold 25 units, and on August 27, 30 more units.

Calculate the average cost of the goods sold in the sale. (Round answers to 3 decimal places, e.g. 5.125.)

June 1 sale:

 $

Aug. 27 sale:

 $

Compute the cost of goods sold using FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.)

FIFO

LIFO

AVERAGE-COST

Cost of goods sold

$

$

$

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