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Beginning inventory, purchases, and sales data for tennis rackets are as follows: Apr. 3 Inventory 12 units @ $45 11 Purchase 13 units @ $47
Beginning inventory, purchases, and sales data for tennis rackets are as follows:
| Apr. | 3 | Inventory | 12 units @ | $45 | ||
| 11 | Purchase | 13 units @ | $47 | |||
| 14 | Sale | 18 units | ||||
| 21 | Purchase | 9 units @ | $60 | |||
| 25 | Sale | 10 units |
Complete the subsidiary inventory ledger assuming the business maintains a perpetual inventory system and calculates the cost of merchandise sold and ending inventory using LIFO.
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