Chapter 7 Homework eBook Show Me How Print Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: Inventory Apr. 1 10 Sale 15 Purchase 20 Sale 24 Sale 30 Purchase 52 units $42 41 units 29 units $44 20 units 9 units 32 units @ $46 The business maintains a perpetual inventory system, costing by the first-in, first-out method. 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. a. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column Cost of the Merchandise Sold Schedule Sold First-in, First-out Method Portable DVD Players Cost of Merchandise Sold Cost of Merchandise Sold Unit Cost Total Cost Inventory Inventory Inventors Quantity Unit Cost Total Cost 0 00 0.00 Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Cost of Merchandise Apr. 1 Apr 10 Apr. 15 Apri 201 00.0 00000 00000 00000 Pres Next Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: 52 units $42 Apr. 1 Inventory 10 Sale 15 Purchase 20 Sale 24 Sale 30 Purchase 41 units 29 units $44 20 units 9 units 32 units $46 The business maintains a perpetual inventory system, costing by the first-in, first-out method. 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. a. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Cost of Merchandise Sold Cost of Merchandise Sold Cost of Merchandise Sold Unit Cost Total Cost Inventory Quantity Inventory Inventory Apr. 1 ADE 10 Apr. 15 Apr 20 0 00 0 0 00000 00000 00000 Unit Cost Total Cost Prev Next