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One of the items sold at Serovetnyk's Electronics Warehouse is a the AB3000 home theatre system. The company uses a perpetual inventory system and FIFO
One of the items sold at Serovetnyk's Electronics Warehouse is a the AB3000 home theatre system. The company uses a perpetual inventory system and FIFO for inventory costing. Apr 2 Purchased 5 more AB3000 home theatre systems for $275 each. 3 Sold 2 AB3000 units. 5 Sold 1 AB3000 unit. 9 Sold 4 AB3000 units. 11 Purchased 7 AB3000s at $250 each. 12 Sold 2 AB3000 units. 29 Sold 1 AB3000 unit. The company started the month with 3 AB3000 units with a cost of $300 each. Instructions 1. ON PAPER, complete the chart below by filling in the missing entries (some are already filled in to help you). 2. Select the correct values for the white boxes by calculating the ending inventory value and cost of goods sold for the month of April. Purchases Cost of goods sold Date Units Cost Total Units Cost Total Units Apr 1 3 $ 300 $ 900 3 Apr 2 5 275 3 5 Balance Cost Total $ 300 $ 900 Apr 3 Apr 5 1 Apr 9 Apr 11 7 250 Apr 12 Apr 29 total 15
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