Question: Please solve this problem correctly: Using the perpetual inventory system calculate the ending inventory under each of the following independent situation: Beginning inventory 400 @

Please solve this problem correctly:

Using the perpetual inventory system calculate the ending inventory under each of the following independent situation:

Beginning inventory 400 @ 4

January purchase 100 units @ 5

February Purchase 200 Units @6

March Purchase 300 units @ 7.

Used 301 Units. Calculate Weighted average cost? Ending inventory cost?

Find FIFO : LIFO: and ending inventory for both.

FIFO: Using the same data above determine the ending inventory Using FIFO cost flow assuming 123 units sold for $ 7 each.

LIFO: using the same data above determine the ending inventory using the LIFO cost flow assuming 50 units are sold for $10 each.

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