Famous Sportwears uses the LIFO inventory method. Famous Sportwears started December with 4 helmets that cost 554 each O

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Famous Sportwears Uses The Lifo Inventory Method Famous Sportwears Started December With 4 Helmets That Cost 554 Each O 1 (23.84 KiB) Viewed 10 times

Famous Sportwears uses the LIFO inventory method. Famous Sportwears started December with 4 helmets that cost 554 each On December 19, Famous Sportwears bought 15 helmets at $50 each On December 28, Famous Sportwears sold 11 helmets Prepare a perpetual inventory record for Famous Sportwears Start by entering the opening inventory balance. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been antared into the perpetual record, calculate the quantly and total cost of inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers fest) LIFO: Date Dec Total 1 19 28 Purchases Unit Total Cost of goods sold Unit Total Cost aty Cost Cost aty Cost Oty Cot Inventory on hand Unit Total Cost