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Hunt Company uses a perpetual inventory system. Transactions for an inventory item during April were as follows: April 1 had beginning inventory of 40 units
Hunt Company uses a perpetual inventory system. Transactions for an inventory item during April were as follows: April 1 had beginning inventory of 40 units @ $210 per unit. April 9 Purchased 10 units @ $225 per unit. April 14 Sold 30 units @ $400 per unit. April 23 Purchased 20 units @ $227 per unit. April 29 Sold 15 units @ $420 per unit. REQUIRED: Record the beginning inventory, purchases, cost of goods sold, and the continuous (perpetual) inventory balance (assuming a FIFO flow of goods) for April on an inventory control schedule with the following columns? Date April xx Received Quantity Received $$$ Sold Quantity Sold $$$ Balance Quantity Balance $$$
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