Homework Answers
Perpetual Inventory Record
| Date | Explanation | Qty Purchased | Rate | Cost | Qty sold | Rate | Cost | Balance on hand | Rate | Cost |
| Jan 1 | Beginning Inventory | 200 | 81 | 16200 | ||||||
| Mar 10 | Sold | 100 | 81 | 8100 | 100 | 81 | 8100 | |||
| June 10 | Purchased | 400 | 83 | 33200 | 500 | 82.6 | 41300 | |||
| Oct 30 | Sold | 300 | 82.6 | 24780 | 200 | 82.6 | 16520 |
Value of closing inventory as on 31 Dec, 2019 is $ 16520.
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