Answer Happy

Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable game players are as follows Inventory 38 units 148 25 units Apr 1 10 15 22 units 551 20 21 units 24 7 units 30 Purchase 30 units @ $54 The business maintains a perpetual inventory system, costing by the first-in, first-out method, Dete Apr 1 Apr. 10 Apr 15 Apr. 24 Apr 30 a. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column Sale Quantity Purchased Ape 30 Balancies Purchase Sale Sale Purchases Purchases Unit Total Cost Cost Perpetual Inventory Account First-in, First-out Method Portable Game Players Quantity Cost of Merchandise Sold 000 Cost of Cost of Merchandise Merchandise Sold Sold Unit Cost Total Cost 8 81 in 100000000 Inventory Quantity Inventory Inventory Unit Total Cost 00000000 Previous Ned