neend help with the reat of this one pls
A Dox. AM of God LI O ha T C G y wy A De AFT D CHE eBook Show Me How Perpetual Irwentory Using UFO Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows: Sales Inventory Dec. 1 Purchases Dec. 10 4,100 units at $34 Dec 12 2.820 units 2,050 units at $36 1,845 units at $38 Dec, 20 Dec 14 2.460 units 1.230 units Dec 31 a. Assuming that the perpetual inventory system is used, costing by the UFO method, determine the cost of goods sold for each sale and the inventory balance after each sale, pre units with the HIGHER unit cost first in the cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method Prepaid Cell Phones Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold Cost of Cost of Goods Sold Goods Sold Unit Cost Total Cost Inventory Inventory Quantity Unit Inventory Total Co Date Deel 1 34 Dec 10 2050 36 100 2050 73.800 1.39.400 73.800 x X Dec 12 2,050 36 73,000 Dec. 14 Dec 20 1,345 38 70.110 Dec 31 WID Dec 31 balances Afete that this criseses the perpetual inventory system. When the perpetual inventory wstem is used revenue is recorded each time a sale is made along with an entry to me Therefore reach the remaining or ending inventory is made up of the first purchases. Think of your inventory in terms of "layers. In other words, your Dec. 1 vetary plus Del 10 gostinst. If there are not enough, then you go to the Dec. 1 layer At that point. You sell aga on Dec. 14, but all you tuvelen is your Dec. 1 goods next you purchase mo satisfy the Dec 31 purchase of the remainder from the Dec 1 layer along with the remainder from the Dec 20 layer make up the ending inventory. Hy multiplying the units cost of the cits sold. Dette check your figure by taking the ending inventory amour away from the total inventory available for sale