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can both problems be solved please? Beginning inventory, purchases, and sales data for portable game players are as follows: Show Me How Apr. 1 10
can both problems be solved please?
Beginning inventory, purchases, and sales data for portable game players are as follows: Show Me How Apr. 1 10 15 20 24 30 Inventory Sale Purchase Sale Sale Purchase 120 units 526 90 units 140 units at 20 110 units 40 units 160 units at $30 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last in, first-out method? ANSWER EX 7-4. Perpetual inventory using LIFO Obj. 2,3 Assume that the businoss in Exercise 7-3 maintains a perpetual Inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale presenting the data in the form illustrated in Exhibit 4. Show Excel Me How ANSWER Check Figure: Inventory balance, April 30, $5,320 Step by Step Solution
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