24% D Frì 5:51 AM a Bookmarks People Window Help lOnine teaching and learning re

Question

24% D Frì 5:51 AM a Bookmarks People Window Help lOnine teaching and learning resource from Cengage Learning Show Me How Perpetual trventory Using LIFO beginning inventory, purchases, and sales data for DVD players are as follows 54 units at $89 39 units 72 units at $94 42 units 12 units 22 units at $99 November Inventory 10 Sale 15 Purchase 20 Sale 24 Sale 30 Purchase The business mantans·perpetual inventory system, costing by the last-test-out method cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form ilustrated in Exhbt under uro, i units are in imvetory and LOWER unit cost frst in the Inventory Unit Cost column at twe difflerent costs, enter the units with the HOGHER unit cost first in the Cost of Goods Sold Unit Cost colums Schedule of Cost of Goods Sold LIFO Mathod Sold Cot of Gaods Sold nventery voryInventory Quantty Unit Cost Total Cost Puchaned Unit Cost Total Coct 0

Explanation / Answer

Valuation of Inventory is as follow:

Quantity

Purchased

Purchase

Unit Cost

in $

Purchase

Total Cost

in $

Quantity

Sold

Cost of

Goods Sold

Per Unit

in $

Total Cost of

Goods Sold

in $

Inventory Unit Cost

in $

Inventory Total Cost

in $

Date

Quantity

Purchased

Purchase

Unit Cost

in $

Purchase

Total Cost

in $

Quantity

Sold

Cost of

Goods Sold

Per Unit

in $

Total Cost of

Goods Sold

in $

Inventory Quantity

Inventory Unit Cost

in $

Inventory Total Cost

in $

Nov 1 54 89 4,806 Nov 10 39 89 3,471 15 89 1,335 Nov 15 72 94 6,768 15 89 1,335 72 94 6,768 Nov 20 42 94 3,948 15 89 1,335 30 94 2,820 Nov 24 12 94 1,128 15 89 1,335 18 94 1,692 Nov 30 22 99 2,178 15 89 1,335 18 94 1,692 22 99 2,178 Total 55 5,205

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