Linda’s Lampshades started business on Jan. 1, 20X1. They had the following inventory transactions: Journals – Jan.

Linda’s Lampshades started business on Jan. 1, 20X1. They had the following inventory transactions:

Journals – Jan. 20X1

Purchases

Supplier         Date Received         Quantity        Unit Cost       Amount

Donna           01/10/X1                110              12.00            1320.00

Thomas         01/15/X1                160              14.00             2240.00

Cindy            01/18/X1                150              15.00            2250.00

Sales

Customer      Date shipped    Quantity      Sel. Price                Amount         

Norilene        01/16/X1         200                  25.00                   5000.001.    Calculate the ending inventory, using the perpetual inventory method: A.     Using FIFOB.     Using LIFO

C.     Using Average Cost

2.    Prepare the following statement             Using

                                      FIFO    LIFO        Average Cost

Sales

Cost of Sales          Gross Profit

Please use excel sheet to create answer. 

Order the answer to view it

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