Problem 4 - Perpetual System
	Complete the following using the Perpetual System And the FIFO method
	I have started it with the beginning inventory of 10 units at $10; and the first purchase of 15 units of $12.
	Remember to bring any unused inventory down
	Sales and purchases for the rest of the month are as follows:
6-May	Sold 8 units
10-May	Purchased 5 units @ 17
20-May	Sold 12 units
25-May	Sold 3 units
	Purchases			Cost of Merch. Sold			Ending Merch. Inventory
Date	Units	Cost	Total	Units	Cost	Total	Units	Cost	Total
1-May							10	$ 10	$ 100
5-May	15	$ 12	$ 180				10	$ 10	$ 100
								$	$
6-May					$	$	$	$
								$	$
10-May		$	$					$	$
								$
								$
20-May					$	$
25-May
				Total COMS			Total Merch. Inv.
	Re work the above problem below using LIFO this time.
	Purchases			Cost of Merch. Sold			Ending Merch. Inventory
	Units	Cost	Total	Units	Cost	Total	Units	Cost	Total
1-May							10	$ 10	$ 100
5-May	15	$ 12	$ 180				10	$ 10	$ 100
							15	$ 12	$ 180
6-May
10-May
20-May
25-May
				Total COMS			Total Merch. Inv.