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Data on initial inventory, purchases and sales of tel It is headphones m from vile for March are the following: Merchandise Inventory in to Sales

 

Data on initial inventory, purchases and sales of telIt isheadphones mfromvile for March are the following:

Merchandise Inventoryinto Sales

March 1  1000 units at $40  

March 5  500 units at $42 

 March 8  700 20 450 

units at $44   14   600 31        300


assuming that the perpetual inventory system is used, calculating the costs per mIt isall LIFO, 

determine the cost of the merchandiseinsold for each sale and the inventory balance afterIt iss of each sale, presenting the data in the form

 
 

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