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The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Ilse's Garden, Inc., for an operating period. Unit
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Ilse's Garden, Inc., for an operating period. Unit Total Units Sold Units Cost Cost Beginning Inventory 30 $21 5630 Sale No. 1 20 Purchase No. 1 SO 30 1.500 Sale No. 2 40 Purchase No. 2 20 33 660 Totals 100 524790 60 Assuming Ilse's Garden, Inc uses FIFO perpetual inventory procedures, it records sale no. 2 as an entry to cost of Goods Sold for Select one A 51.110 8 $1,200 C5840 D. 51.260 The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Ilse's Garden, Inc., for an operating period. Units Sold Units 30 Unit Cost $21 Total Cost $630 20 Beginning inventory Sale No. 1 Purchase No. 1 Sale No. 2 Purchase No. 2 50 30 1,500 40 33 660 Totals 20 100 $2.799 60 Assuming lise's Garden, Inc uses LIFO perpetual inventory procedures, sale no 2 is recorded as an entry to cost of Goods Sold for: Select one: 0 A $840 B. 51.200 C$1,110 D. 51.320 The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Ilse's Garden, Inc., for an operating period. Total Cost Units Sold Unit Cost $21 Units 30 $630 20 50 30 1,500 Beginning inventory Sale No. 1 Purchase No. 1 Sale No. 2 Purchase No. 2 Totals 40 33 660 20 100 $2.790 60 Assuming Ilse's Garden Inc uses weighted average (perpetual) inventory procedures, sale no. 2 is recorded as an entry to cost of Goods Sold for Select one: A $1,140 B. $1.116 C $1,020 D. $1,065
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