Ex-06-04
gageNOWV2 Onlir X C Get Homework Help With C now.com/ilm/takeAssignment/takeAssignment Main.doFinvokeru&takeAssignmentSession Locator &inprogress-false eBook Show Me How Calculator Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 74 units at $79 10 Sale 50 units 15 Purchase 90 units at $84 20 Sale 51 units 24 Sale 15 units 30 Purchase 36 units at $89 The business 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 Under uro, units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER un cost first in the Erwentory Unit Cost column Schedule of Cost of Goods Sold LIFO Method DVD Players Date Quantity Purchases Unit Purchapes Total Quantity Cost of Goods Sold Cost of Goods Sold Inventory Purchased Inventory Total Cost Cost Inventory Unit Sold Unit Cost Total Cost Quantity Cost Cost Nov. 1 74 5,846 Nov so 79 3,950 79 1.896 10 24 Check My Work Previous Next All work saved Email Instructor Save and Et Submit Assent for a e . 11:58 PM ageNOWV2 Onlir X C Get Homework Help With + w.com/ilm/take Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator Sinprogress=false eBook Show Me How Calculator Nov. 15 90 84 7.560 24 79 1.896 90 84 7.560 51 34 6,284 Nov. 20 24 1,896 84 Nov. 24 Nov. 30 - 1001 III 100000 Now. 30 Balances Feedback Note that this exercise uses the perpetual inventory system. When the perpetual inventory system is used, revenue is recorded each time a sale is made along with an entry to record the cost of the goods solduro means the last s purchased are assumed to be the first to be sold. Therefore after each, the remagar ending inventory made up of the first purchases. Think of your invertory in terms of "layers. In other words, how many units remained after each sale? Learning Objective 2. Learning Objective 3. Previous Net Emal instructor Save and Submit Asment for All work saved e C O gageNOWV2 Onlir X C Get Homework Help With C now.com/ilm/takeAssignment/takeAssignment Main.doFinvokeru&takeAssignmentSession Locator &inprogress-false eBook Show Me How Calculator Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 74 units at $79 10 Sale 50 units 15 Purchase 90 units at $84 20 Sale 51 units 24 Sale 15 units 30 Purchase 36 units at $89 The business 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 Under uro, units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER un cost first in the Erwentory Unit Cost column Schedule of Cost of Goods Sold LIFO Method DVD Players Date Quantity Purchases Unit Purchapes Total Quantity Cost of Goods Sold Cost of Goods Sold Inventory Purchased Inventory Total Cost Cost Inventory Unit Sold Unit Cost Total Cost Quantity Cost Cost Nov. 1 74 5,846 Nov so 79 3,950 79 1.896 10 24 Check My Work Previous Next All work saved Email Instructor Save and Et Submit Assent for a e . 11:58 PM ageNOWV2 Onlir X C Get Homework Help With + w.com/ilm/take Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator Sinprogress=false eBook Show Me How Calculator Nov. 15 90 84 7.560 24 79 1.896 90 84 7.560 51 34 6,284 Nov. 20 24 1,896 84 Nov. 24 Nov. 30 - 1001 III 100000 Now. 30 Balances Feedback Note that this exercise uses the perpetual inventory system. When the perpetual inventory system is used, revenue is recorded each time a sale is made along with an entry to record the cost of the goods solduro means the last s purchased are assumed to be the first to be sold. Therefore after each, the remagar ending inventory made up of the first purchases. Think of your invertory in terms of "layers. In other words, how many units remained after each sale? Learning Objective 2. Learning Objective 3. Previous Net Emal instructor Save and Submit Asment for All work saved e C O
