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P6.3B (LO 2,3)(Apply perpetual FIFO and average cost; compare effects.) Family Appliance Mart...

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Accounting

P6.3B (LO 2,3)(Apply perpetual FIFO and average cost; compare effects.) Family Appliance Mart Ltd. opened for business on May 1 and uses a perpetual inventory system. During May, the company had the following purchases and sales for one of its products:
\table[[Date,Purchases,Sales],[Units,Unit Cost,Units,Unit Price],[May,1,110,$190,,],[6,140,220,,],[11,,,200,$350
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