Perpetual Inventory Using LIFO Show Me How Print Beginning inventory, purchases, and sales data for portable game players are as follows: 59 units $92 Apr. 1 Inventory 10 Sale 40 units 15 Purchase 71 units $98 20 Sale 41 units 24 Sale 11 units 30 Purchase 38 units $102 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form ilustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost colume Schedule of Cost of Merchandise Sold LIFO Method Portable Game Players Cost of Merchandise Sold Unit Cost Cost of Merchandise Sold Total Cost Inventory Quantity Inventory Unit Inventory Total Cost Cost Date Quantity Purchased: Purchases Unit Cost Purchases Total Cost Quantity Sold Apr 1 Apr 10 Apr. 15 Apr. 20 0 0 000000 000000, 000000 hapter 7 Homework eBook Show Me How My Home CengageNOWV2 Online teachi CengageNOWV21 Online teach Merchandise Fiel PrintItem The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost coll Schedule of Cost of Merchandise Sold LIFO Method Portable Game Players Date Quantity Purchased Purchases Unit Purchases Total Quantity Cost of Merchandise Sold Cost Cost Sold Unit Cost Apr. 1 Apr. 10 Apr. 15 Apr 20 Apr. 24 Apr 30 Apr. 30 Balance Check My Work Cost of Merchandise Sold Total Cost Inventory Quantity Inventory Unit Inventory Te Cost Cost 0 0 0 0 000000000000 Previous Next