Swifty Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases....
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Swifty Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 50 $15 July 28 30 15 On June 1, Swifty sold 26 units, and on August 27,43 more units. Prepare the perpetual inventory schedule for the above transactions using FIFO. Date Purchases May 7 $ Product E2-D2 50 $ Cost of Goods Sold Balance 15 $ 750 June 1 $ 26 $ 15 $ 390 July 28 $ 30 $ 15 $ 450 Aug. 27 $ 43 $ CA 15 $ 645 Swifty Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 50 $15 July 28 30 15 On June 1, Swifty sold 26 units, and on August 27,43 more units. Prepare the perpetual inventory schedule for the above transactions using FIFO. Date Purchases May 7 $ Product E2-D2 50 $ Cost of Goods Sold Balance 15 $ 750 June 1 $ 26 $ 15 $ 390 July 28 $ 30 $ 15 $ 450 Aug. 27 $ 43 $ CA 15 $ 645
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