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i need assistance preparing a perpetual inventory system. the inventory is posted below as well as the FIFO, LIFO, and weighted average inventory methods that need to be filled out. I am unsure of how to fill out the LIFO and COGS form.

C D 1 Inventory Flow Assumptions 2 3 4 5 Date 5 Jan 1 Jan 3 DATA Description Inventory on hand Purchase Sale Purchase Sale Per Unit $ 4 $ 5 Jan 6 Jan 15 Jan 22 Units 1,000 3,000 2,750 5,000 4,500 $ $ $ 10 6 10 Post. Ref. Debit Credit Account/Explanation Date January 03 to record purchase of 3,000 units of inventory at $5 per unit. 06 to record sale of 2,750 units at $10 per unit. 1 8 to record weighted average cost of 2.750 units of inventory sold. 15 to record purchase of 5,000 units at $6. 3 22 to record sale of 4,500 units of inventory at $10 each. 22 1 5 5 to record weighted average cost of 4,500 units of inventory sold. B 3 Instructions inventory worksheet Journal Entries FIFO Journal Entries LIFO Journal Entries Wt Avg Ready LIFO COGS Unit cost Purchases Unit cost Date Jan 1 Quantity Total Cost Quantity Inventory on Hand Unit cost Total Cost Quantity Total Cost Jan 3 & Jan 6 Jan 15 Jan 22 $ 8,250.00 5 Purchases Unit cost Weighted-Average COGS Quantity Unit cost Inventory on Hand Unit cost Total Cost GT Quantity Total Cost Total Cost Quantity Date Jan 1 E8 70 Jan 3 TS Jan 6 75 77 TR TO Jan 15 3 31 R2 R3 Jan 22 34 BS NE 17 Account/Explanation Post. Ref. Debit Credit Date January 03 . to record purchase of 3,000 units of inventory at $5 per unit. 3 . 06 . to record sale of 2,750 units at $10 per unit. 1 2 3 to record LIFO cost of 2,750 units of inventory sold. 15 5 5 7 B to record purchase of 5,000 units of $6. 22 - to record sale of 4,500 units of inventory at $10 each. 22 to record LIFO cost of 4,500 units of inventory sold. Instructions inventory worksheet Journal Entries FIFO Journal Entries LIFO Jo Account/Explanation Post. Ref. Debit Credit 1 2 3 4 Date January 03 5 6 to record purchase of 3,000 units of inventory at $5 per unit. 06 to record sale of 2,750 units at $10 per unit. 7 8 9 20 11 12 3 to record FIFO cost of 2,750 units of inventory sold 15 to record purchase of 5,000 units at $6. 22 5 -6 7 8 9 0 1 2 3 1 5 5 to record sale of 4,500 units of inventory at $10 each. 22 to record FIFO cost of 4,500 units of inventory sold. 7 3 3 3 3 . . Instructions inventory worksheet Journal Entries FIFO Journal Entries LIFO

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