Question: Sheffield Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 55
Sheffield Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.
| Date | Number of Units | Unit Cost | |||
|---|---|---|---|---|---|
| May 7 | 55 | $10 | |||
| July 28 | 30 | 13 | |||
On June 1, Sheffield sold 25 units, and on August 27, 47 more units.



Your answer is partially correct. Prepare the perpetual inventory schedule for the above transactions using FIFO. Date May 7 June 1 July 28 Aug. 27 69 GA 6A Purchases e Textbook and Media 550 Mi 390 Product E2-D2 $ 69 $ GA LA Cost of Goods Sold Mi 250 F LA LA LA 69 Balance 550 300 690 Assistance Used Your answer is partially correct. Prepare the perpetual inventory schedule for the above transactions using LIFO. Date May 7 June 1 July 28 Aug. 27 GA LA 69 Purchases 550 IN 390 Product E2-D2 GA CA 69 LA Cost of Goods Sold F M 250 Mi LA 69 69 69 Balance 550 000 Prepare the perpetual inventory schedule for the above transactions using moving-average cost. (Round average-cost per unit to 3 decimal places, e.g. 12.50 and final answers to O decimal places, e.g. 1,250.) Date May 7 June 1 July 28 Aug. 27 69 $ 69 $ $ 69 $ 69 Purchases Product E2-D2 $ GA LA GA GA Cost of Goods Sold tA GA GA GA Balance
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