Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 19 units @ $12 11 Purchase 17 units @ $16 24 units 14 Sale 21 Purchase 11 units @ $16 25 Sale 17 units Complete the inventory record assuming the business maintains a perpetual inventory system, and determine the cost of goods sold and ending inventory using LIFO. Cost of Goods Sold Qty Date Apr. 3 11 14 21 25 Balances 10 0 Purchases Qty Purchases Unit Cost Purchases Total Cost Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost 00 00 00 000 83 Inventory Qty Inventory Unit Cost Inventory Total Cost ===

Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 19 units @ $12 11 Purchase 17 units @ $16 24 units 14 Sale 21 Purchase 11 units @ $16 25 Sale 17 units Complete the inventory record assuming the business maintains a perpetual inventory system, and determine the cost of goods sold and ending inventory using LIFO. Cost of Goods Sold Qty Date Apr. 3 11 14 21 25 Balances 10 0 Purchases Qty Purchases Unit Cost Purchases Total Cost Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost 00 00 00 000 83 Inventory Qty Inventory Unit Cost Inventory Total Cost ===

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 3E: Beginning inventory, purchases, and sales data for portable game players are as follows: The...

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