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Now journalize the expense related to the June 3 saleSold 8 units. Review the FIFO perpetual record you prepared above. Date Accounts Debit Credit Jun.
Now journalize the expense related to the June 3 saleSold 8 units. Review the FIFO perpetual record you prepared above. Date Accounts Debit Credit Jun. 3 (FIFO) FIFO: Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Jun. 1 10 $ 50 $ 500 8 $ 50 $ 400 2$ 50 $ 100 10 $ 56 $ 560 2$ 50 $ 100 10 $ 56 $ 560 2 $ 50 $ 100 6 $ 56 $ 336 4 $ 56 $ 224 $ 560 16 $ 836 $ Totals 224
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