Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1

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Perpetual Inventory Using Lifo Beginning Inventory Purchases And Sales Data For Dvd Players Are As Follows November 1 1 (220.33 KiB) Viewed 13 times

Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 69 units at $58 Date Nov. 1 Nov. 10 10 15 Check My Work 20 24 low Me How 30 Inventory Sale Purchase Sale Sale 57 units Purchase 32 units at $64 The business maintains a perpetual inventory system, costing by the t-in, first-out method. Determine the cost of goods sold sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. 90 units at $60 50 units 14 units Schedule of Cost of Goods Sold LIFO Method DVD Players Quantity Purchases Purchases Quantity Purchased Unit Cost Total Cost Sold Cost of Goods Sold Unit Cost Cost of Goods Sold Inventory Total Cost Quantity Inventory Inventory Unit Cost Total Cost Previous Next > Save and Exit Submit Assignment for Grading