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Pl. Modern Décor Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500. During the month, Modern Décor purchased and sold merchandise on account as follows: June 7 Purchase 14 Sale 25 sofas @ $750 each 30 sofas @ 1,150 each 50 sofas @ $775 each 18 Purchase 27 Sale 35 sofas @ $1,200 each Prepare a perpetual inventory record, using the FIFO inventory costing method. Use the table below as your guide. A Purchases 1 Cost of Goods Sold Quant Unit Total Quant Unit Cost Cost Inventory on Hand Total Quant Unit Total Cost Cost Cost Cost

Pl. Modern Décor Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500. During the month, Modern Décor purchased and sold merchandise on account as follows: June 7 Purchase 14 Sale 25 sofas @ $750 each 30 sofas @ 1,150 each 50 sofas @ $775 each 18 Purchase 27 Sale 35 sofas @ $1,200 each Prepare a perpetual inventory record, using the FIFO inventory costing method. Use the table below as your guide. A Purchases 1 Cost of Goods Sold Quant Unit Total Quant Unit Cost Cost Inventory on Hand Total Quant Unit Total Cost Cost Cost Cost

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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P1. Modern Décor Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500. During the month, Modern Décor purchased and sold merchandise on account as follows: June 7 Purchase 14 Sale 25 sofas @ $750 each 30 sofas @ 1,150 each 50 sofas @ $775 each 18 Purchase 27 Sale 35 sofas @ $1,200 each Prepare a perpetual inventory record, using the FIFO inventory costing method. Use the table below as your guide. Purchases Cost of Goods Sold Inventory on Hand Quant Unit Total Quant Unit Total Quant Unit Total Cost Cost Cost Cost Cost Date Cost
Transcribed Image Text:P1. Modern Décor Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500. During the month, Modern Décor purchased and sold merchandise on account as follows: June 7 Purchase 14 Sale 25 sofas @ $750 each 30 sofas @ 1,150 each 50 sofas @ $775 each 18 Purchase 27 Sale 35 sofas @ $1,200 each Prepare a perpetual inventory record, using the FIFO inventory costing method. Use the table below as your guide. Purchases Cost of Goods Sold Inventory on Hand Quant Unit Total Quant Unit Total Quant Unit Total Cost Cost Cost Cost Cost Date Cost
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