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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
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