Question
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 18 units @ $13 11 Purchase 12 units @ $18
Beginning inventory, purchases, and sales data for tennis rackets are as follows:
| April | 3 | Inventory | 18 units | @ | $13 | |
| 11 | Purchase | 12 units | @ | $18 | ||
| 14 | Sale | 22 units | ||||
| 21 | Purchase | 9 units | @ | $16 | ||
| 25 | Sale | 13 units |
Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using FIFO.
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Fundamental Accounting Principles
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
20th Edition
1259157148, 78110874, 9780077616212, 978-1259157141, 77616219, 978-0078110870
