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Beginning inventory, purchases and sales data for T-shirts are as follows: Apr 3 Inventory 24 units @ $10 11 Purchase 26 units @ $12 14
Beginning inventory, purchases and sales data for T-shirts are as follows:
Apr 3 | Inventory | 24 units | @ | $10 |
11 | Purchase | 26 units | @ | $12 |
14 | Sale | 36 units |
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21 | Purchase | 18 units | @ | $15 |
25 | Sale | 20 units |
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Assuming the business maintains a perpetual inventory system, calculate the cost of merchandise sold on April 14th and April 25th, as well as ending inventory as of April 30th, using FIFO.
Enter as whole numbers! Do not use decimals or dollar signs.
COMS April 14th $
COMS April 25th $
Ending Inventory April 30th $
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