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Beginning inventory, purchases, and sales data for tennis rackets are as follows: 18 units @ $15 April 3 Inventory 11 Purchase 14 Sale 15 units
Beginning inventory, purchases, and sales data for tennis rackets are as follows: 18 units @ $15 April 3 Inventory 11 Purchase 14 Sale 15 units @ $16 21 units 13 units @ $15 19 units 21 Purchase 25 Sale 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. Purchases Cost of Goods Sold Unit Cost Inventory Date Qty. Unit Cost Total Cost Qty. Total Cost Qty. Unit Cost Total Cost April 3 18 15 270 11 15 16 240 18 $ 15 $ 270 15 $ 16 240 14 15 16 240 II 21 $ 15 21 O 1 $ II WI 25 Total Cost of goods sold Ending inventory value
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