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Bonita Sports began operations on January 2, 2020. The following stock record card for footballs was taken from the records at the end of the
Bonita Sports began operations on January 2, 2020. The following stock record card for footballs was taken from the records at the end of the year. Units Received Unit Invoice Cost Terms Gross Invoice Amount Date Voucher 1/15 10624 Net 30 59 $ 25 $ 1,475 3/15 11437 1/5, net 30 74 20 1,480 6/20 21332 1/10, net 30 99 19 1,881 9/12 27644 1/10, net 30 93 15 1,395 11/24 31269 1/10, net 30 85 14 1,190 Totals 410 $ 7,421 A physical inventory on December 31, 2020, reveals that 116 footballs were in stock. The bookkeeper informs you that all the discounts were taken. Assume that Bonita Football Shop uses the invoice price less discount for recording purchases. Compute the December 31, 2020, inventory using the FIFO method. (Round per unit and final answer to 2 decimal paces, e.g. 35.57.) Ending Inventory using the FIFO method $ $ e Textbook and Media Assistance Used X Your answer is incorrect. Compute the 2020 cost of goods sold using the LIFO method. (Round per unit and final answer to 2 decimal paces, e.g. 35.57.) Cost of Goods Sold using the LIFO method TA $
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