Complete the following table using the perpetual FIFO method of inventory flow.Cost ofGoods SoldPurchasesDateQty Unit CostTotal CostQtyJuly 2600 $12.005200$13.00300325 $14.00300$150 $$13.0050 $205$120$180 $330 $15.0070571012182225283131 Bal25000Unit Cost00Total Cost$$$$Qty$$$InventoryUnit Cost000Total Cost$$$$$000

The FIFO method stands for first in first out, where older inventory is sold first. Under perpetual…

Complete the following table using the perpetual FIFO method of inventory flow. Cost of Goods Sold Purchases Date Qty Unit Cost Total Cost Qty July 2 600 $12.00 5 200 $13.00 7 300 325 $14.00 300 150 $13.00 50 205 120 180 330 $15.00 70 10 12 18 22 25 28 31 F 250 Dal in 5 Unit Cost $ $ Total Cost 200 0000 Qty 3000 000 Inventory Unit Cost $ 000 0 Total Cost GA 19 40 40 69 19 69 0000 000

Complete the following table using the perpetual FIFO method of inventory flow. Cost of Goods Sold Purchases Date Qty Unit Cost Total Cost Qty July 2 600 $12.00 5 200 $13.00 7 300 325 $14.00 300 150 $13.00 50 205 120 180 330 $15.00 70 10 12 18 22 25 28 31 F 250 Dal in 5 Unit Cost $ $ Total Cost 200 0000 Qty 3000 000 Inventory Unit Cost $ 000 0 Total Cost GA 19 40 40 69 19 69 0000 000

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13: Accounting For Merchandise Inventory

Section: Chapter Questions

Problem 3CE: Use the following information to compute cost of goods sold under the FIFO and LIFO inventory...

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