Perpetual inventory using lifo CengageNowv2] Online tayl v.com/iln/takeAssignmen

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Perpetual inventory using lifo CengageNowv2] Online tayl v.com/iln/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssign...; Calculator Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 10 Sale 15 Purchase 20 Sale 24 Sale 30 Purchase 61 units $99 43 units 80 units @ $104 44 units 13 units 26 units $109 hc buaines martns erpno maho Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting t data in the form illustrated in Exhibit4 Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in ti Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the inventory Unit Cost column. Schedule of Cost of Merchandise Sold LIFO Method Portable Game Players Cost of Cost of Date Quantity Invento Total Purchased Purchases Purchases Quantity Merchandise Inventory Sold Sold Unit Sold Total Quantity F6 F7 F8 F9 F10 F11 F12 sBreak

Explanation / Answer

STATEMENT SHOWING INVENTORY RECORD UNDER PERPETUAL LIFO METHOD RECIEPTS COST OF GOODS SOLD BALANCE DATE UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ 1-Apr 61 99 6039 10-Apr 43 99 4257 18 99 1782 15-Apr 80 104 8320 18 99 1782 80 104 8320 20-Apr 44 104 4576 18 99 1782 36 104 3744 24-Apr 13 104 1352 18 99 1782 23 104 2392 29-Apr 26 109 2834 18 99 1782 23 104 2392 26 109 2834 TOTAL 106 11154 100 10185 67 7008

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