Linda S Lampshades Started Business On Jan 1 20×1 They Had The Following Invento

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

Journals – Jan. 20X1


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


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


Cost of Sales          Gross Profit

Please use excel sheet to create answer.