Question: (Perpetual Inventory System and Average Cost) Assume the same facts as in problem 1(c), except that ABC company uses a perpetual inventory system. Determine the

  1. (Perpetual Inventory System and Average Cost) Assume the same facts as in problem 1(c), except that ABC company uses a perpetual inventory system. Determine the inventory balance ABC would report on its April 30 Balance sheet and the cost of goods sold it would report on its April income statement using the average cost flow assumption. Show your work (you may choose to use the provided table or delete it and use your own format).

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