End Inventory Cost=

PR_6-2A_data -Windows Photo Viewer File Print E-mail Burn Open PR 6-1 Use this data, but complete PR 6-2A below, ie. LIFO NOT FIFO Obj. 2, 3 The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31 are as follows Transaction Number of Units Total Date Per Unit Jan 1 Inventory 7,500 $ 75.00 562.500 1,912.500 Purchase 10 22,500 8500 28 Sale 11,250 150.00 1,687500 30 Sale 3,750 150.00 562500 Feb. 5 Sale 225.000 1,500 150.00 10 Purchase 54,000 87.50 4,725,000 Sale 27,000 160.00 16 4320.000 Sale 25,500 4,080.000 28 160.00 Purchase 45,000 8950 4027500 Mar. 14 Sale 30,000 160.00 4,800.000 675.000 25 Purchase 7,500 90.00 30 Sale 26,250 160.00 4,200,000 nstructions 1 ecord the inventory, purchases, and cost of goods sold data in a perpetual inventory ecord similar to the one illustrated in Exhibit 3, using the first-in, first-out method. etermine the total sales and the total cost of goods sold for the period. Journallze the ntries in the sales and cost of goods sold accounts. Assume that all sales were on account. etermine the gross profit from sales for the period wer 4 etermine the ending inventory cost as of March 31. 5 ased upon the preceding data, would you expect the ending inventory using the last-in, rst-out method to be higher or lower? PR 6-2A LIFO Perpetual Inventory Obj. 2, 3 The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period are shown in Problem 6-1A. Instructions 1 Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 4, using the last-in, first-out method. 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period Aner Check Pigure: Gross profit, $8,853,750 3. Determine the ending inventory cost as of March 31. DI hp e 9:37 AM NN Ca . ENG X P 10/4/2019 15e_PR 06-2A (1) Off X AutoSave Review Share File Page Layout Formulas View Help Search Comments Home Insert Draw Data P29 P A C F F G H K L M N T X Y AA AB AC AE AF AG AH AL 15 Unit Total Unit Total Usit Total Pass eaww. coss Jan. 1 leansis. coss euansise 10 Gost Gost Gost Gost Cose $75.00 562.500 17 7,500 10 10 13 20 20 21 30 23 Fob. 5 24 25 26 10 2T 28 29 16 30 31 32 28 33 34 35 Mar. 5 36 37 38 33 14 40 41 42 43 25 44 45 46 4T 48 30 45 50 51 31 Balances 52 53 54 2. 55 56 Total sales Total coet of qeede cold Groas profit 57 58 53 60 61 Pr. 6-2A (+ 60% Select destination and press ENTER or choose Paste +