Prepare the perpetual inventory schedule for the above transactions using (a) FIFO, (b) LIFO, and…

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

Date

Number of Units

Unit Price

7-May

50

$10

28-Jul

30

13

On June 1, Gregory sold 26 units, and on August 27, 40 more units. Prepare the perpetual inventory schedule for the above transactions using (a) FIFO, (b) LIFO, and (c) moving-average cost.

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