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Problem 2 (10 pts.): Julian Junkets uses a perpetual system of inventory and has the following inventory information: Units 2.000 6,000 4.000 2,000 Date July
Problem 2 (10 pts.): Julian Junkets uses a perpetual system of inventory and has the following inventory information: Units 2.000 6,000 4.000 2,000 Date July 1 Beginning Inventory July 5 Purchase July 14 Sale July 31 Purchase Unit Cost $ 4.00 $4.40 Total Cost $ 8.000 $ 26,400 $ 4.75 $ 9.500 $43,900 a. How many units remain unsold at July 31'? b. Use the information above along with the chart below to compute the Cost of Goods Sold for July and the Inventory Balance on July 31. Julian values inventory using LIFO in a perpetual system. Show your work to include labels to receive credit
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