HomeWork: Gnapter F:$6$ Homework

Part $1$ of $8$

Completed: $1$ of $4$

My score: $2\mathrm{.}98/20$ pts $(14\mathrm{.}92\%)$

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Ornamental Iron Works began August with $70$ units of iron inventory that cost $$25$ each. During August, the company completed the following inventory transactions: $($Click the icon to view the transactions.$)$

Read the requirements.

EF$6-16($similar to$)$

requirements.

Question $|2\mathrm{.}98/6$ pts

$q,$

Requirement $1.$ Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method.

Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the pel the oldest inventory layers first.$)$

Data table

$\backslash$table$[[,,$Units,Unit Cost,Unit Sales Price$],[$Aug$.3,$Sale,$60,,$$$,74],[$Aug$.8,$Purchase,$80,$$ $43,,],[$Aug$.21,$Sale,$70,,,79],[$Aug$.30,$Purchase,$20,49,,]]$

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