Question
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 11 Purchase 14 Sale 22 units $16 12 units
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 11 Purchase 14 Sale 22 units $16 12 units $14 10 units 21 Purchase 25 Sale 11 units $17 14 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 LIFO. Date Qty. Purchases Unit Cost Cost of Goods Sold Inventory Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 11 12 14 168 14 " 21 11 17 187 338 000 Total Cost of goods sold Ending inventory value
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