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LIFO Perpetual Inventory The beginning inventory of merchandise at Rhodes Co . and data on purchases and sales for a three - month period ending
LIFO Perpetual Inventory
The beginning inventory of merchandise at Rhodes Co and data on purchases and sales for a threemonth period ending June are as follows:
tableDateTransaction,tableNumberof UnitstablePerUnitTotal:Apr.:Inventory,$$Purchase,Sale,Sale,MayPurchase,Sale,Sale,Purchase,,,JuneSale,Sale,Purchase,Sale,
Required: LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.
tableFor,tableRrPerpetual ILIFthe threentableles Coentory AccMethodnths endedtableuntune Purchases,,Cost,Merchand,e Sold,,Inventory,DateQuantity,Unit Cost,Total Cost,Quantity,Unit Cost,Total Cost,Quantity,Unit Cost,Total CostApr$$Apr$$Apr$$AprlnantMay May May I May ximay June June June June June June Balances,,,,,$$
Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period.
Total sales
Total cost of merchandise
sold
Gross profit
Determine the ending inventory cost on June
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