Béğinning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 18 units @ $12 11 Purchase 17 units @ $19 14 Sale 22 units 21 Purchase 12 units @ $17 25 Sale 19 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using FIFO. Cost of Inventory Purchases Goods Sold Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 11 14 21 88.8 25 Total Cost of goods sold Ending inventory value
Béğinning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 18 units @ $12 11 Purchase 17 units @ $19 14 Sale 22 units 21 Purchase 12 units @ $17 25 Sale 19 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using FIFO. Cost of Inventory Purchases Goods Sold Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 11 14 21 88.8 25 Total Cost of goods sold Ending inventory value
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 2PEA: Beginning inventory, purchases, and sales for Item Widget are as follows: Assuming a perpetual...
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