Chapter 10, Problem 10.1E

Moving Average, FIFO, LIFO. Arthur Lloyd Associates provided the following information regarding its inventory for the current year its second year of operations.

Transaction	Units	Sales in Units	Unit Cost	Total Cost
Beginning inventory 1/1	10.000		$18	$ 180,000
Purchases
February 8	23,000		20	460,000
March 15	18,600		22	409,200
Subtotal	51,600			$1,049,200
Units sold - April 2 at $41		49,500
April 30	37,000		28	1,036,000
July 15	12,400		31	384,400
Subtotal	101,000			$2,469,600
Units sold - September 1 at $47		26,000
November 9	34,500		29	1,000,500
Total available for sale	135,500			$3,470,100
Total units sold	(75,500)
Ending inventory	60,000

Required

Compute Arthur Lloyd’s ending inventory and cost of goods sold under each of the following cost-flow methods assuming that the company uses a perpetual inventory system (round your answer for cost per unit to two decimal places):

1. a. Moving Average
2. b. FIFO
3. c. LIFO