AC114 Accounting Assignment Problem

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AC114 Accounting Assignment - Purdue University, USA

Question - Sheffield Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.

Date

Number of Units

Unit Price

May 7

50

$20

July 28

30

23

On June 1, Sheffield sold 20 units, and on August 27, 40 more units.

Required -

Prepare the perpetual inventory schedule for the above transactions using FIFO.

Prepare the perpetual inventory schedule for the above transactions using LIFO.

Prepare the perpetual inventory schedule for the above transactions using moving-average cost.

Reference no: EM132441568

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