Question
John Adams Companys record of transactions for the month of April was as follows. Purchases April 1 (balance on hand) 792 @ $ 5.00 April
John Adams Companys record of transactions for the month of April was as follows.
Purchases
April 1 (balance on hand) 792 @ $ 5.00
April 4- 1,98 @ $5.15
April 8- 1,056 @ $5.37
April 13- 1,584 @ $5.63
April 21- 924 @ $6.03
April 29- 660 @ $6.24
Total purchases in Units 6,996
SALES
April 3- 660@ $8.64
April 9- 1,848 @ $8.64
April 11- 792 @ $10.18
April 23- 1,584@ $10.18
April 27 - 1,188 @ $12.31
Total Sale in Units 6,072
Assuming that perpetual inventory records are kept in dollars, determine the inventory using LIFO??
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Audit And Management Of The Company
Authors: Trésor Ilunga KAMPELA, Bernard KAYIMBW MANETA
1st Edition
6205405253, 978-6205405253
