Question: Vaughn Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 45
Vaughn Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 45 July 28 30 $12 16 On June 1, Vaughn sold 25 units, and on August 27,45 more units. (a) Your answer is partially correct. Prepare the perpetual inventory schedule for the above transactions using FIFO. Date May 7 June 1 July 28 5 $ S Aug. 27 $ S Purchases Product E2-D2 Cost of Goods Sold 540 $ 480 S 5 300 $ 240 Balance 540 240 S 720 Cost of Goods Sold Prepare the perpetual inventory schedule for the above transactions using LIFO. Product E2-D2 Date Purchases May 7 S in 540 June 1 $ July 28 S 480 Aug. 27 $ S Balance 540 300 $ 240 s in $ Prepare the perpetual inventory schedule for the above transactions using moving-average cost. (Round average-cost per unit to 3 decimal places, eg: 12.50 and final answers to O decimal places, eg. 1.250) Date: Purchases May 7 S 540 Product E2-D2 Cost of Goods Sold Balance June 1 S July 28 Aug 27 $ S 5 5 300 S S in
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