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Beginning inventory, purchases, and sales data for tennis rackets are as follows: Date Line Item Description Units and Cost April 3 Inventory 22 units @
Beginning inventory, purchases, and sales data for tennis rackets are as follows:
Date | Line Item Description | Units and Cost |
---|---|---|
April 3 | Inventory | 22 units @ $13 |
11 | Purchase | 17 units @ $17 |
14 | Sale | 22 units |
21 | Purchase | 8 units @ $19 |
25 | Sale | 11 units |
Complete the inventory record assuming the business maintains a perpetual inventory system, and determine the cost of goods sold and ending inventory using LIFO.
Date | Purchases Qty | Purchases Unit Cost | Purchases Total Cost | Cost of Goods Sold Qty | Cost of Goods Sold Unit Cost | Cost of Goods Sold Total Cost | Inventory Qty | Inventory Unit Cost | Inventory Total Cost |
---|---|---|---|---|---|---|---|---|---|
Apr. 3 | fill in the blank 1 | $fill in the blank 2 | $fill in the blank 3 | ||||||
11 | fill in the blank 4 | $fill in the blank 5 | $fill in the blank 6 | fill in the blank 7 | $fill in the blank 8 | $fill in the blank 9 | |||
11 | fill in the blank 10 | $fill in the blank 11 | $fill in the blank 12 | ||||||
14 | fill in the blank 13 | $fill in the blank 14 | $fill in the blank 15 | fill in the blank 16 | $fill in the blank 17 | $fill in the blank 18 | |||
14 | fill in the blank 19 | $fill in the blank 20 | $fill in the blank 21 | ||||||
21 | fill in the blank 22 | $fill in the blank 23 | $fill in the blank 24 | fill in the blank 25 | $fill in the blank 26 | $fill in the blank 27 | |||
21 | fill in the blank 28 | $fill in the blank 29 | $fill in the blank 30 | ||||||
25 | fill in the blank 31 | $fill in the blank 32 | $fill in the blank 33 | fill in the blank 34 | $fill in the blank 35 | $fill in the blank 36 | |||
25 | fill in the blank 37 | $fill in the blank 38 | $fill in the blank 39 | ||||||
Balances | $fill in the blank 40 | $fill in the blank 41 |
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