problem pr 7-2a

data on purchases

data on purchases cont.

using data on exercise 7-1 (attached) we have to do exercise 7-2a LIFO perpetual inventory

giuss Brht from sales for the period. 4. Determine the ending inventory cost as of March 31, 2016. 5. Based upon the preceding data, would you expect the inventory u first-out method to be higher or lower? sing the last-in, PR 7-2A LIFO perpetual inventory The beginning inventory at Funky Party Supplies and data on purchases and sales for a OBJ.2, 3 three month period are shown in Problem 71A. Instructions 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual -out inventory record similar to the one illustrated in Exhibit 5, using the last-in, first method. 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. 3. Determine the ending inventory cost as of March 31, 2016. oBJ. 2, 3 PR 7-3A Weighted average cost method with perpetual inventory The herinning inventory for Funky Party Supplies and data on purchases and sales fo