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Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 22 units @ $16 3 Inventory 11 Purchase 17 units @ $18
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 22 units @ $16 3 Inventory 11 Purchase 17 units @ $18 14 Sale 29 units 21 Purchase 11 units @ $22 25 Sale 14 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 FIFO. Cost of Merchandise Sold Inventory Purchases Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 $ 11 $ $ I 14 $ $ II 9 Jl. lll Ill ti non 21 25 Total cost of merchandise sold Ending inventory value
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