Question $2$

RAZR WIRELESS sells a variety of mobile telephone accessories including several brands of Wireless Earbuds

Bluetooth Headphones. The earbuds are sold in cases, with each case containing a pair of earbuds. RAZR began

the last quarter $($October to December$)$ of $2021$ with $30$ cases of the $($TOZO T$6)$ earbuds at a total cost of $$187,800.$

During the quarter the business completed the following transactions relating to the "TOZO T$6"$ earbuds:

Unless otherwise stated, assume that all purchases were on account and received on the dates stated.

Required:

a$)$ Prepare a perpetual inventory record for this merchandise, using the first in$,$ first out $($FIFO$)$ method of

inventory valuation to determine RAZR's cost of goods sold for the quarter and the value assigned to

ending inventory.

Please Answer Correctly