pboard Alignment Number 226 x fx A B C D E F G 9 Answers are entered in the cells with gray backgrounds. 10 Cells with non-gray backgrounds are protected and cannot be edited. 11 An astensk (*) will appear to the night of an incorrect entry. Only final inventory cost-Column K - will be graded. Purchases Unit Cost Prepaid Cell Phones Cost of Goods Sold Unit Total Quantity Cost Cost Quantity Date Dec. 1 Total Cost Quantity 310 Inventory Unit Cost $88 Total Cost $ 27 280 10 144 990 $ 12,960 $90 12,960 240 144 240 $90 166 20 2 40 596 23.040 240 596 23.040 31 200 31 Balances $ 8,064 Based on the above data, inventory will be higher using the first in first out method to be higher or lower The business matt a. Determine the cost of goods sold lub presenting the data in the form illustrated in Exholl - Based upon the preceding data, would you expect the inventory to be high the last-in, first-out method? ntory system, costing 0,21 and the inventory ustrated in Exhibit 4. EX 6-4 Perpetual inventory using LIFO Assume that the business in Exercise 6-3 maintains a perpetual inventory s the last-in, first-out method. Determine the cost of goods sold for each sale a balance after each sale, presenting the data in the form illustrated in Exhibit 4 cember are as follow 00121 EX 6-5 Perpetual inventory using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for December a Inventory Purchases Dec. 10 20 Sales Dec. 12 14 31 144 units at $90 240 units at 95 240 units 166 units 200 units Dec. 1 310 units at $88 a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determin the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. b. Based upon the preceding data, would you expect the inventory to be higher or lower using the first-in, first-out method? Obj. 22 EX 6-6 Perpetual inventory using FIFO Assume that the business in Exercise 6-5 maintains a perpetual inventory system, costing first-in, first-out method. Determine the cost of goods sold for each sale and the invento after each sale, presenting the data in the form illustrated in Exhibit 3. poj 2