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Prepare the perpetual inventory schedule for the transaction

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Lily Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.

Date          . # of Units         Unit price.

May 7.           50.                    $11

July 28.          30.                    $15

Problem 1: On June 1, Lily sold 20 units, and on August 27, 40 more units. Prepare the perpetual inventory schedule for the above transactions using FIFO. (Round answers to 0 decimal places, e.g. 1,250.)

Reference no: EM132689459

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