Swifty Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.DateMay 7July 28DateMay 7On June 1, Swifty sold 26 units, and on August 27, 43 more units.June 1Number of UnitsPrepare the perpetual inventory schedule for the above transactions using FIFO.July 28Aug. 27$$50$30$Unit Cost$1515Purchases75003600Product E2-D2$$$$Cost of Goods Sold03900$$$$Balance750360360285 Prepare the perpetual inventory schedule for the above transactions using LIFO.DateMay 7June 1July 28Aug. 27DateMay 7June 1July 28$Aug. 27$$$$$$Purchases$750Purchases750000Prepare the perpetual inventory schedule for the above transactions using moving-average cost. (Round average-cost per unit to 3decimal places, e.g. 12.50 and final answers to O decimal places, e.g. 1,250.)$$LAProduct E2-D2$$Product E2-D2$$$Cost of Goods SoldCost of Goods SoldD0D0$$$$$$$$BalanceBalance750750

The inventory can be valued using various methods as FIFO, LIFO and average method. Using FIFO…

Swifty Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date May 7 July 28 Number of Units 50 30 Unit Cost $15 15 On June 1, Swifty sold 26 units, and on August 27, 43 more units. Prepare the perpetual inventory schedule for the above transactions using FIFO. Product E2-D2

Swifty Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date May 7 July 28 Number of Units 50 30 Unit Cost $15 15 On June 1, Swifty sold 26 units, and on August 27, 43 more units. Prepare the perpetual inventory schedule for the above transactions using FIFO. Product E2-D2

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 9EA: Calculate the cost of goods sold dollar value for A66 Company for the month, considering the...

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