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Date	Activities	Units Acquired at Cost					Units Sold at Retail
January 1	Beginning inventory	225	units	@ $11.00	=	$ 2,475
January 10	Sales						150	units	@ $41.00
March 14	Purchase	340	units	@ $16.00	=	5,440
March 15	Sales						300	units	@ $41.00
July 30	Purchase	425	units	@ $21.00	=	8,925
October 5	Sales						395	units	@ $41.00
October 26	Purchase	125	units	@ $26.00	=	3,250
	Totals	1,115	units			$ 20,090	845	units

Perpetual FIFO: Date Goods Purchased Cost of Goods Sold Inventory Balance # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units Cost per unit Inventory Balance January 1 225 at $11.00 = $2,475.00 January 10 150 at $11.00 = $1,650.00 75 at $11.00 = $825.00 March 14 340 at $16.00 75 at $11.00 = $825.00 340 at $16.00 = 5,440.00 Total March 14 $6,265.00 March 15 75 at $11.00 = $825.00 0 at $11.00 225 at $16.00 = 3,600.00 115 at $16.00 = $1,840.00 Total March 15 $4,425.00 $1,840.00 July 30 425 at $21.00 0 at $11.00 115 at $16.00 = 1,840.00 425 at $21.00 = 8,925.00 Total July 30 $10,765.00 October 5 0 at $11.00 = $0.00 0 at $11.00 115 at $16.00 = 1,840.00 0 at $16.00 300 at $21.00 = 6,300.00 145 at $21.00 = 3,045.00 Total October 5 $8,140.00 $3,045.00 October 26 125 at $26.00 0 at $11.00 0 at $16.00 145 at $21.00 = 3,045.00 125 at $26.00 = 3,250.00 Totals $14,215.00 $6,295.00

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