Ex 7-4

Ex 7-10

OBJ. 2,3 EX 7-4 Perpetual inventory using LIFO Assume that the business 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. ry balance, $5,320 Show Me