Question

Ceragevow Online apter 6 Homework chegarde eBook Show Me How Calator November 1 74 units at $82 48 units 90 units at $87 51 unit 14 units 24 units at $90 30 Purchase The business maintains a perpetual inventory system, costing by the last in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Ext 4. Under LIFO, units are in inventory at two different costs, enter the units with the HIGHER un cost first in the cost of Goods Sold Unt Cost come and LOWER contain the Schedule of Cost of Goods Sold UFO Method DVD Players Date Quantity Purchased Purchases Unt Cost Purchases Total Cost Quantity Sold Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total 90 7 7,080 Now, so v 2,100 All work saved ent Score: 62.33%

perpetial inventory usong LIFO

Answer 1

Schedule of Cost of Goods Sold
LIFO METHOD
DVD Players
Date	Quantity Purchased	Purchases Unit Cost	Purchases Total Cost	Quantity Sold	Cost of Goods Sold Unit Cost	Cost of Goods Sold Total Cost	Inventory Quantity	Inventory Unit Cost	Inventory Total Cost
Nov 1							74	$82	$6068
Nov 10				48	$82	$3936	26	$82	$2132
Nov 15	90	$87	$7830				26	$82	$2132
							90	$87	$7830
Nov 20				51	$87	$4437	26	$82	$2132
							39	$87	$3393
Nov 24				14	$87	$1218	26	$82	$2132
							25	$87	$2175
Nov 30	24	$90	$2160				26	$82	$2132
							25	$87	$2175
							24	$90	$2160
Nov 30	Balances					$9591			$6467