Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 18 units @ $15 11 Purchase 13 units @ $16 14 Sale 19 units 21 Purchase 13 units @ $21 25 Sale 19 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using LIFO. Cost of Goods Sold Inventory Purchases Unit Cost Qty. Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Date April 3 11 14 21 25 83 Total Cost of goods sold $ Ending inventory value 000
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 18 units @ $15 11 Purchase 13 units @ $16 14 Sale 19 units 21 Purchase 13 units @ $21 25 Sale 19 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using LIFO. Cost of Goods Sold Inventory Purchases Unit Cost Qty. Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Date April 3 11 14 21 25 83 Total Cost of goods sold $ Ending inventory value 000
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 3PEA: Beginning inventory, purchases, and sales for Item Zebra 9x are as follows: Assuming a perpetual...
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