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Beginning inventory, purchases and sales data for hammers are as follows: Mar 3 11 $25.00 $27.00 @ 14 21 25 Inventory Purchase Sale Purchase Sale
Beginning inventory, purchases and sales data for hammers are as follows: Mar 3 11 $25.00 $27.00 @ 14 21 25 Inventory Purchase Sale Purchase Sale 12 units 13 units 18 units 9 units 10 units @ $30.00 Assuming the business maintains a perpetual inventory system, under the FIFO (First-In, First-Out) assumptions a complete the inventory cards on the table below (6 marks) b. calculate the cost of merchandise sold (1 mark) c. calculate the ending inventory (1 mark) Cost of Merchandise Sold Qty Unit Total Cost Qty Cost Date Purchases Unit Total Cost Cost Qty Inventory Unit Total Cost Cost Mar 3 Mar 11 Mar 14 Mar 21 Mar 25 Balances
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