Beginning inventory, purchases, and sales data for portable DVD players are as f

Question

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 69 units $51 50 units 83 units o $54 46 units 13 units 38 units $56 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the forp luatrated in Exnibt 4 Under LIFO, if units are in inventory at two different costs, enter the units with the H at two daiferent costs, enter the units with the KIGHER unit cost frt in the Cost of Merchandse Sold unt Cost olume and LOWER u cost first in the Inventory Unit Cost column. Schedule of Cost of Merchandise Sold LIFO Method Portable Game Players Cost of Merchandise Sold Total Cost Inventony Unit Cost Inventory Cost of Merchandise Sold Unit Cost Total Cost Purchases Unit Cost Purchases Total Cost Quantity Sold Date Purchased

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 69 51 3519 10-Apr 50 51 2550 19 51 969 15-Apr 83 54 4482 19 51 969 83 54 4482 20-Apr 46 54 2484 19 51 969 37 54 1998 24-Apr 13 54 702 19 51 969 24 54 1296 30-Apr 38 56 2128 19 51 969 24 54 1296 38 56 2128 TOTAL 121 6610 109 5736 81 4393

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.