100 5200 5200 6300 7150300Worksheet instructions: Purchases: May 5 May 16 May 24

100
5200
5200
6300
7150300Worksheet instructions:
Purchases:
May 5
May 16
May 24
units @
Inventory:
May 1
Sales:
May 14
units
May 20
Calculate the requested amounts showing you
0100
5200
5200
6300
7150300Worksheet instructions:
Purchases:
May 5
May 16
May 24
units @
Inventory:
May 1
Sales:
May 14
units
May 20
Calculate the requested amounts showing your work below and
entering your answers to the right.
1. Using the periodic inventory system determine ending inventory under FIFO
2. Using the periodic inventory system determine cost of goods sold under FIFO
3. Using the periodic inventory system determine ending inventory under LIFO
4. Using the periodic inventory system determine cost of goods sold under LIFO
5. Using the periodic inventory system determine ending inventory under average cost
6. Using the periodic inventory system determine cost of goods sold under average cost
7. Using the perpetual inventory system determine ending inventory under FIFO
ANSWERS
SHOW YOUR WORK!!
8. Using the perpetual inventory system determine cost of goods sold under FIFO
9. Using the perpetual inventory system determine ending inventory under LIFO
10. Using the perpetual inventory system determine cost of goods sold under LIFO

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