Date Units Unit Cost Total

4/1 (Beg. Inv.) 600 $ 6.00 $ 3,600.00

4/4 purchase 1500 $ 6.08 $ 9,120.00
4/8 purchase 800 $ 6.40 $ 5,120.00
4/13 purchase 1200 $ 6.50 $ 7,800.00
4/21 purchase 700 $ 6.60 $ 4,620.00
4/29 purchase 500 $ 6.79 $ 3,395.00
Goods Available For Sal 5300 $ 33,655.00
Sales 4600
4/30 Ending Inv. (W/A) 700 $ 6.35 $ 4,445.00
4/30 Ending Inv. (LIFO) 700 100 @ 6.08 $ 4,208.00
600 @ 6.00

Activity Cost of Goods sold Inventory Balance

FIFO Units/Unit Cost
4/1 (Beg. Inv.) 600
4/3 Sale 500 @ $6.00 $ 3,000.00 100
4/4 Purchase 1500
4/8 Purchase 800
4/9 Sale 100 @ $6.00 $ 8,504.00 200
1300 @ $6.08 800
4/11 Sale 200 @ $6.08 $ 3,776.00 400
400 @ $6.40
4/13 Purchase 1200
4/21 Purchase 700
4/23 Sale 400 @ $6.40 $ 7,760.00 400
800 @$6.50 700
4/27 Sale 400 @ $6.50 $ 5,900.00 200
500 @ $6.60
4/29 Purchase 500
4/30 Ending Inventory 4600 units $ 28,940.00 200
500
Activity Cost of Goods sold Inventory Balance
LIFO Units/Unit Cost
4/1 (Beg. Inv.) 600
4/3 Sale 500 @ $6.00 $ 3,000.00 100
4/4 Purchase 1500
4/8 Purchase 800
4/9 Sale 800 @ $6.40 $ 8,768.00 100
600 @ $6.08 900
4/11 Sale 600 @ $6.08 $ 3,648.00 100
300
4/13 Purchase 1200
4/21 Purchase 700
4/23 Sale 700 @ $6.60 $ 7,870.00 100
500 @ $6.50 300
700
4/27 Sale 700 @ $6.50 $ 4,966.00 100
200 @ $6.08 100
4/29 Purchase 500
4/30 Ending Inventory 4600 units $ 28,252.00 700

cost of goods sold(FIFO)= $ 33,655.00 $ 4,715.00 $ 28,940.00

Cost of goods sold(LIFO)= $ 33,655.00 $ 4,208.00 $ 29,447.00

Fifo shows the highest net income during an inflation perio

 Inventory Balance
Units/Unit Cost Total
$ 6.00 $ 3,600.00
$ 6.00 $ 600.00
$ 6.08 $ 9,720.00
$ 6.40 $ 14,840.00
$ 6.08 $ 6,336.00
$ 6.40
$ 6.40 $ 2,560.00

$ 6.50 $ 10,360.00
$ 6.60 $ 14,980.00
$ 6.50 $ 7,220.00
$ 6.60
$ 6.60 $ 1,320.00

$ 6.79 $ 3,395.00
$ 6.60 $ 4,715.00
$ 6.79
Inventory Balance
Units/Unit Cost Total
$ 6.00 $ 3,600.00
$ 6.00 $ 600.00
$ 6.08 $ 9,720.00
$ 6.40 $ 14,840.00
$ 6.00 $ 6,072.00
$ 6.08
$ 6.00 $ 2,424.00
$ 6.08
 $ 6.50 $ 10,224.00
$ 6.60 $ 14,844.00
$ 6.00 $ 6,974.00
$ 6.08
$ 6.50
$ 6.00 $ 1,208.00
$ 6.08
$ 6.79 $ 3,395.00
$ 4,603.00

come during an inflation period.