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Perpetual FIFO
Goods Purchased Cost of Goods Sold Inventory Balance
Date Units Unit Cost Units Unit Cost Cost of Goods Sold Units Unit Cost Inventory Balance
Mar-01 150 40.00 6,000
Mar-05 450.00 45.00 150 40.00 6,000
450 45.00 20,250
600 26,250
Mar-09 150 40.00 6,000
320 45.00 14,400 130 45.00 5,850
20,400 130 5,850
Mar-18 220.00 50.00 130 45.00 5,850
220 50.00 11,000
-
350 16,850
Mar-25 300.00 52.00 130 45.00 5,850
220 50.00 11,000
300 52.00 15,600
-
650 32,450
Mar-29 - - - -
130 45.00 5,850 90 50.00 4,500
130 50.00 6,500 300 52.00 15,600
12,350 -
Totals 32,750 390 20,100
Perpetual LIFO
Goods Purchased Cost of Goods Sold Inventory Balance
Date Units Unit Cost Units Unit Cost Cost of Goods Sold Units Unit Cost Inventory Balance
Mar-01 150 40.00 6,000
Mar-05 450 45.00 150 40.00 6,000
450 45.00 20,250
600 26,250
Mar-09 450 45.00 20,250 130 40.00 5,200
20 40.00 800 - - -
21,050 130 5,200
Mar-18 220 50.00 130 40.00 5,200
220 50.00 11,000
350 16,200
Mar-25 300 52.00 130 40.00 5,200
220 50.00 11,000
300 52.00 15,600
650 31,800
Mar-29 260 52.00 13,520 130 40.00 5,200
220 50.00 11,000
40 52.00 2,080
- -
Totals 34,570 390 18,280
Specific Identification
Goods Purchased Cost of Goods Sold Inventory Balance
Date Units Unit Cost Units Unit Cost Cost of Goods Sold Units Unit Cost Inventory Balance
Mar-01 150 40.00 6,000
Mar-05 450 45.00 150 40.00 6,000
450 45.00 20,250
600 26,250
Mar-09 40 40.00 1,600 110 40.00 4,400
430 45.00 19,350 20 45.00 900
20,950 130 5,300
Mar-18 220 50.00 110 40.00 4,400
20 45.00 900
220 50.00 11,000
350 16,300
Mar-25 300 52.00 110 40.00 4,400
20 45.00 900
220 50.00 11,000
300 52.00 15,600
650 31,900
Mar-29 - 40.00 - 110 40.00 4,400
- 45.00 - 20 45.00 900
90 50.00 4,500 130 50.00 6,500
170 52.00 8,840 130 52.00 6,760
13,340 -
Totals 34,290 390 18,560
Requirement (4)
FIFO LIFO Weighted Average Specific Identification
Sales 57,350 57,350 57,350 57,350
Cost of goods sold (32,750) (34,570) (33,478) (34,290)
Gross profit 24,600 22,780 23,873 23,060