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Mike's Powersports use the LIFO inventory method, Mia's Powersports started August with 7 helmets that cost $54 each. On August 19, Mike's Powersports bought
Mike's Powersports use the LIFO inventory method, Mia's Powersports started August with 7 helmets that cost $54 each. On August 19, Mike's Powersports bought 12 helmets at $52 each On August 28, Mike's Pomports sold 9 helmets Prepare a perpetual inventory record for Mike's Powersports Stant by enting the opening inventory balance. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period (Enter the oldest inventory layers first) LIFO Aug Purchase Cost of goods sold leventory on hand Un Total Date Qty Cost Cost Qty Cost Unit Total Cost Tal any Cost Cost
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