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Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 20 units @ $13 11 Purchase 16 units @ $19
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 20 units @ $13 11 Purchase 16 units @ $19 23 units 14 Sale 21 Purchase 8 units @ $16 25 Sale 11 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 LIF Cost of Goods Sold Purchases Inventory Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 11 14 10 UD 21 II) 25 Total Cost of goods sold Ending inventory value
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