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petual inventory using FIFO

inning inventory, purchases, and sales data for DVD players are as follows:

Nov. $1$ Inventory

$56$ units at $$46$

$10$ Sale

$38$ units

$15$ Purchase

$30$ units at $$49$

$20$ Sale

$25$ units

$24$ Sale

$9$ units

$30$ Purchase

$21$ units at $$51$

business maintains a perpetual inventory system, costing by the first$-$in$,$ first$-$out method. LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column.

First$-$in$,$ First$-$out Method

DVD Players

Cost of Cost of

Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory

Purchased Unit Cost Total Cost" Sold Unit Cost Total Cost Quantity Unit Cost Total Cost

$3$ more Check My Work uses remaining

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