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Read the requirements. table [ [ Date , Purchases,Cost of Goods Sold,Inventory on Hand ] , [ Quantity , Unit Cost,Total Cost,Quantity,Unit Cost,Total Cost,Quantity,Unit
Read the requirements.
tableDatePurchases,Cost of Goods Sold,Inventory on HandQuantityUnit Cost,Total Cost,Quantity,Unit Cost,Total Cost,Quantity,Unit Cost,Total CostAugTotals
Transactions
Aug. Beginning merchandise inventory, books @ $ each
Aug. Sold books @ $ each
Aug. Purchased books @ $ each
Aug. Sold books @ $ each
Aug. Purchased books @ $ each
Aug. Sold books @$ each
Requirements
a Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the specific identification meth Assume the following costing information for the books sold during the mon
August : books costing $ each
August : books costing $ each and books costing $ each
August : books costing $ each and books costing $ each
b Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the FIFO inventory costing method.
c Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the LIFO inventory costing method.
d Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the weightedaverage inventor costing method. Round weighted average unit cost to the nearest cent and total cost to the nearest dollar.
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