PR 7-4A Accounting 27th Edition Warren/Reeve/Duchac

PR 7-1A FIFO perpetual inventory OBJ. 2, 3 The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31, are as follows: Number Per of Units Unit Total Date Transaction Jan. 1 Inventory 562,500 7,500 $ 75.00 85.00 1,912,500 11,250 150.001,687,500 562,500 225,000 54,000 87.504,725,000 27,000 160.00 4,320,000 25,500 160.00 4,080,000 89.50 4,027,500 0,000 160.00 4,800,000 10 Purchase 28 Sale 30 Sale 22,500 3,750 150.00 1,500 150.00 Feb. 5 Sale 10 Purchase 16 Sale 28 Sale Mar. 5 Purchase - 45,000 14 Sale 25 Purchase 30 Sale 7,500 26,250 90.00 160.00 675,000 4,200,000