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Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 11 Purchase 18 units $17 15 units $17 14
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 11 Purchase 18 units $17 15 units $17 14 Sale 22 units 21 Purchase 8 units $21 25 Sale 11 units Complete the subsidiary inventory ledger assuming the business maintains a perpetual inventory system and computes the cost of merchandise sold and ending inventory Using LIFO. Cost of Purchases Merchandise Sold Inventory Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 11 14 21 25 000 Total cost of merchandise sold Ending inventory value
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