Question

perptual inventory using lifo... please help!

Perpetual Inventory Using UFO Beginning inventory, purchases, and sales data for portable game players are as follows Apr. 1 Inventory 78 units $69 59 units 15 Purchase $72 20 Sale 104 units 60 units 16 units 23 units 24 Sale 30 Purchase The business maintains a perpetual inventory system, costing by the last in, Erst-out method Determine the cost of merchandise sold for each a nd the inventory balance reach a presenting the data in the form e d in a Under LIFO, if units are in inventory at two dirent costs, enter the units with the HIGHER unit cost first in the cost of Merchandise Sold Unit Cost column and LOWER unit contrat in the inventory Unit Cost con EEE Schedule of Merchandise Sold UFO Method Portable Game Players Cost of Merchandise Sold Unit Cost of Merchandise Sold Total Cost Purchases Total Purchases Unit Quantity Inventory Inventory Unit Date Trentory Total

Answer 1

Schedule of cost of merchandise sold

LIFO method

Portable Game players

Date	Quantity purchased	Purchases unit cost	Purchases total cost	Quantity sold	Cost of merchandise sold unit cost	Cost of merchandise sold total cost	Inventory quantity	Inventory unit cost	Inventory total cost
Apr 1							78	69	5382
Apr 10				59	69	4071	19	69	1311
Apr 15	104	72	7488				19 104	69 72	1311 7488
Apr 20				60	72	4320	19 44	69 72	1311 3168
Apr 24				16	72	1152	19 28	69 72	1311 2016
Apr 30	23	75	1725				19 28 23	69 72 75	1311 2016 1725
Apr 30	Balances					9543			5052

Cost of merchandise sold = $9543; ending inventory = $5052