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C Not secure v2.cengagenow.com/ilm/takeAssignment/takeA Apps M Huntingdon College WebAssign Chapter 7 Work eBook Sho Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable DVD playe 52 units $55 34 units 64 units @ $58 36 units 9 units 36 units $61 June 1 Inventory 6 Sale 14 Purchase 19 Sale 25 Sale 30 Purchase The business maintains a perpetual inventory system, costing by the l Determine the cost of merchandise sold for each sale and the invento Under LIFO, if units are in inventory at two different costs, enter the Cost column. Purchases Unit Cost Purchases Total Cost Date June 1 June 6 purchased

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LIFO Perpetual Inventory Method

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Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold Cost of Merchandise Sold unit cost Cost of Merchandise Sold total cost Inventory Quantity Inventory Unit Cost Inventory Total Cost 1-Jun 52 $55 $2,860 6-Jun 34 55 1870 18 55 990 14-Jun 64 58 3712 18 55 990 64 58 3712 19-Jun 36 58 2088 18 55 990 28 58 1624 25-Jun 9 58 522 18 55 990 19 58 1102 30-Jun 36 61 2196 18 55 990 19 58 1102 36 61 2196 30-Jun 4480 4288

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