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please help me solve this asap Marianna Leather, a distributor of leather products, uses the FIFO method for valuing inventories. It began May with 54.
please help me solve this asap
Marianna Leather, a distributor of leather products, uses the FIFO method for valuing inventories. It began May with 54. units of an inventory item that cost $172 each. During May, the store completed these inventory transactions: (Click the icon to view the transactions.) Required 1. Prepare a perpetual inventory record for this item. 2. Determine the store's cost of goods sold for May. 3. Compute gross margin for May. Req Lea Da Ma Ma Ma More info May 3 Sale... 8 Purchase. 21 Sale.. 30 Purchase.. Print Units 35 80 66 19 Unit Cost Unit Sale Price $298 $308 $178 $186. Done - X - first.) Cost ttp Marianna Leather, a distributor of leather products, uses the FIFO method for valuing inventories. It began May with 54 units of an inventory item that cost $172 each. During May, the store completed these inventory transactions: (Click the icon to view the transactions.) Required 1. Prepare a perpetual inventory record for this item. 2. Determine the store's cost of goods sold for May. 3. Compute gross margin for May. Requirement 1. Prepare a perpetual inventory record using the FIFO method. (Enter the oldest inventory layer first.) Leather Product Date May 1 May 3 May 8 Purchases QTY Unit Cost Tot. Cost: 80 178 KIXO 1420 Cost of Goods Sold QTY Unit Cost Tot. Cost 35 QTY Inventory on Hand Unit Cost Tot. Cost IV e Step by Step Solution
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