K The Wonderful World of Music carries a large inventory of guitars and other musical instruments. The store uses the FIFO method and a perpetual inventory system. Company records indicate the following for a particular line of guitars that sell for $1,500 each. Date November 1 November 6 November 8 November 17 November 30 Item Balance Purchase Sale Purchase Quantity 3 10 + 10 Unit Cost 3900 $840 Required Prepare a perpetual inventory record for the guitars. Then, determine the amounts The Wonderful World of Music should report for ending inventory and cost of goods sold under the FIFO method.

prepare the perpetual inventory record.

The Wonderful World of Music carries a large inventory of guitars and other musical instruments. The store uses the FIFO method and a perpetual inventory system. Company records indicate the following for a particular line of guitars that sell for $1.500 each. Required Prepare a perpetusl inventory record for the guitars. Then, determine the amounts The Wonderful World of Music should report for ending inventory and cost of goods sold under the FIFO method