eBookShow Me HowPrint Item

Question Content Area

LIFO Perpetual Inventory

The beginning inventory of merchandise at Rhodes Co$.$ and data on purchases and sales for a three$-$month period ending June $30$ are as follows:

Date Transaction Number

of Units Per Unit Total

Apr. $3$ Inventory $54$ $$450$ $$24,300$

$8$ Purchase $10854058,320$

$11$ Sale $721,500108,000$

$30$ Sale $451,50067,500$

May $8$ Purchase $9060054,000$

$10$ Sale $541,50081,000$

$19$ Sale $271,50040,500$

$28$ Purchase $9066059,400$

June $5$ Sale $541,57585,050$

$16$ Sale $721,575113,400$

$21$ Purchase $162720116,640$

$28$ Sale $811,575127,575$