Ali Super Store

Perpetual Inventory System(LIFO)

Purchases
Sold
Date
units
@
Amount units
@
Amount
2-Jul
300
6.1
1830
10-Jul
120
6.6
792
13-Jul
17-Jul

360

7.1

120

7.6

60

8.1

660

240

7.1

1704

60

7.6

456

912

27-Jul

29-Jul

6.6

2556

20-Jul

23-Jul

100

486

Cost of Goods Sold

2820

Balance
@
Amount
300
6.1
1830
300
6.1
1830
120
6.6
792
300
6.1
1830
20
6.6
132
300
6.1
1830
20
6.6
132
360
7.1
2556
300
6.1
1830
20
6.6
132
120
7.1
852
300
6.1
1830
20
6.6
132
120
7.1
852
120
7.6
912
300
6.1
1830
20
6.6
132
120
7.1
852
60
7.6
456
300
6.1
1830
20
6.6
132
120
7.1
852
60
7.6
456
60
8.1
486
Cost Of Ending Inv.
3756
units

Computation for Cost of Ending Inventory

Periodic Inventory System(Avg. cost)

Avg. cost per unit

Total Cost
total Units
6576
960

Computation for Units Available for Sales

units
@
Amount
300
6.1
1830
120
6.6
792
360
7.1
2556
120
7.6
912
60
8.1
486
960

6.85

units sold

400

Units in Hands = Available for sales-units sold

= 960-400
560

cost of Ending Inventory

units in hand* avg. cost per unit

560*6.85
3836

Cost of Goods sold

Units Sold*Avg. cost per unit

400*6.85
2740