The beginning inventory, purchases, and sales for Myrl Sign Company for the month of April follow.

REQUIRED
Calculate the total amount to be assigned to cost of goods sold for April and the ending inventory on April 30, under each of the following methods:
1. Perpetual LIFO inventory method
2. Perpetual moving-average inventorymethod

Transcribed Image Text:

Beginning Inventory and Purchases Units Date Sales Cost/Unit Units April 1 (BI) $4.30 4.50 4.60 100 100 200 April 20 April 30 BI: Beginning Inventory 5.50 400 650