Perpetual Inventory Using Fifo Beginning Inventory Purchases And Sales Data For Dvd Players Are As Follows November 1 1 (43.97 KiB) Viewed 33 times
Perpetual Inventory Using Fifo Beginning Inventory Purchases And Sales Data For Dvd Players Are As Follows November 1 2 (34.59 KiB) Viewed 33 times
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 41 units at $68 10 Sale 34 units 15 Purchase 24 units at $72 20 Sale 16 units 24 Sale 10 units Purchase 20 units at $76 The business maintains a perpetual inventory system, costing by the first-in, first-out method. 30 a. Determine the cost of the goods sold for each sale and the inventory balance after each sale, presenting the d Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first Cost column and in the Inventory Unit Cost column.
LIFO Method Prepaid Cell Phones Quantity Cost of Goods Sold Sold Unit Cost Quantity Purchased Purchases Unit Cost Cost of Goods Sold Total Cost Purchases Total Cost Inventory Quantity Date Inventory Unit Cost Inventory Total Cost 310 $88 $27,280 Dec. 1 Dec 10 Dec 12 Dec III 1011 (11 11111 000001 100 DOC I o 20 Dec 31 o Dec 31 Balances b. Based upon the preceding data, would you expect the inventory to be higher or lower using the first tout method?
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