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Perpetual inventory using LIFO The following units of a particular item were available for sale during the calendar year: Jan. 1 Apr. 19 June 30
Perpetual inventory using LIFO The following units of a particular item were available for sale during the calendar year: Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Inventory Sale Purchase Sale Purchase 4,500 units at $39 2,800 units 4,300 units at $42 5,400 units 1,900 units at $45 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the last-in, first-out method. Present the data in th if units are in inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost column. Round your answers for quantity values to the nearest whole nu cent, and for total cost values to the nearest dollar. Schedule of Cost of Goods Sold LIFO Method Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Dec. 31 Balances
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