dorinvoker-assignments& taketinprogres:M ? Perpetual Inventory Using UFO Beginni
ID: 2511042 • Letter: D
Question
dorinvoker-assignments& taketinprogres:M ? Perpetual Inventory Using UFO Beginning invenbery, purchases, and sales data for DVD players are as follows November 1 Inventery 10 Sale 26 units 52 unts at $76 0 units The business maintains a perpetual invenbory system, costing by the last-in First-out method Determine the cost of merchandise sold far ?ach sale and inventory balance aher each sale. Presenting th, data the nas ???.ened att be a ?) der uro. fun tre in avventory at two difuront casts, soter th" unts weh the H?ONER unt cost first e, the cost of Goods Sold u a cast eatin and towet ed es Schedule of Cst of Goods Soild ?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-Nov 40 72 2880 10-Nov 26 72 1872 14 72 1008 15-Nov 52 76 3952 14 72 1008 52 76 3952 20-Nov 14 72 1008 16 76 1216 36 76 2736 24-Nov 9 76 684 27 76 2052 30-Nov 21 81 1701 27 76 2052 21 81 1701 TOTAL 73 5653 65 4780 48 3753
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