Question
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: January 1 Inventory 84 units @ $20 5 Sale 67
Perpetual Inventory Using LIFO
Beginning inventory, purchases, and sales for Item PK95 are as follows:
| January 1 | Inventory | 84 units @ $20 | |
| 5 | Sale | 67 units | |
| 11 | Purchase | 93 units @ $24 | |
| 21 | Sale | 78 units |
Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on January 21 and (b) the inventory on January 31.
| a. Cost of merchandise sold on January 21 | $fill in the blank 1 |
| b. Inventory on January 31 | $fill in the blank 2 |
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ISO 27001 Controls A Guide To Implementing And Auditing
Authors: IT Governance
1st Edition
1787781445, 978-1787781443
