PR 6-2A LIFO perpetual inventory

The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period are shown in Problem 6-1A.

(6-1A)

Date		Transactions	Number of Units	Per Unit ($)	Total ($)
Jan.	1	Inventory	2,500	60.00	150,000
	10	Purchase	7,500	68.00	510,000
	28	Sale	3,750	120.00	450,000
	30	Sale	1,250	120.00	150,000

Instructions

1. Record the inventory, purchases, and cost of merchandise sold data in the perpetual inventory record similar to the one illustrated in Exhibit 6, using the weighted average cost method.