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Cascade Inc. completed the given inventory transactions throughout the month of September:

Date                    Item         Quantity       Unit Cost

1-Sep                 Balance         25              $80

4-Sep                Purchase        40              $78

12-Sep                 Sale            52  

22-Sep               Purchase        30              $77

30-Sep                 Sale            22  

Requirements: 

1) Make a perpetual inventory record by using FIFO.

2) Make a perpetual inventory record by using LIFO.

3) Make a perpetual inventory record by using average cost

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M920330

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