The following information relates to the inventory of a retailing business named Sports Ltd. during the month of October. Ignore GST.

Units Units cost ($) Total cost ($)
1/10 Beginning inventory 315 110 34,650
5/10 Sales @ $250 180 ?
10/10 Purchase 225 116 26,100
12/10 Sales @ $250 165 ?
15/10 Purchase 135 122 16,470
20/10 Sales @ $250 170 ?
23/10 Purchase 205 130 26,650


Sports Ltd uses the Perpetual Inventory System.



  1. Determine the Ending inventory and Cost of Sales for the month of October, using the average method.
  2. Contrast the Perpetual and Periodic Inventory systems.

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