LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustr
LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 4 , using the last-in, first-out method. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. Determine the ending inventory cost on June 30.
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LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustr
LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for...
LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Date TransactionNumber of UnitsPer UnitTotal Apr. 3Inventory66$ 225$ 14,850 8Purchase13227035,640 11Sale8875066,000 30Sale5575041,250 May 8Purchase11030033,000 10Sale6675049,500 19Sale3375024,750 28Purchase11033036,300 June 5Sale6679052,140 16Sale8879069,520 21Purchase19836071,280 28Sale9979078,210 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 4 , using the last-in, first-out method. Under LIFO, if units are...
LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period a...
LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 54 $ 225 $ 12,150 8 Purchase 108 270 29,160 11 Sale 72 750 54,000 30 Sale 45 750 33,750 May 8 Purchase 90 300 27,000 10 Sale 54 750 40,500 19 Sale 27 750 20,250 28 Purchase 90 330 29,700 June 5 Sale 54 790 42,660...
..................... LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales...
.....................
LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Number Total of Units Date Transaction Per Unit 375 24,750 Apr. 3 Inventory 66 Purchase 8 132 450 59,400 11 Sale 88 1,250 110,000 30 Sale 55 1,250 68,750 Purchase 55,000 May 8 110 500 Sale 10 66 1,250 82,500 Sale 19 33 1,250 41,250 550 Purchase 28 110 60,500 Sale June 5 66 1,315 86,790 Sale...
LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for...
LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 66 $ 300 $ 19,800 8 Purchase 132 360 47,520 11 Sale 88 1,000 88,000 30 Sale 55 1,000 55,000 May 8 Purchase 110 400 44,000 10 Sale 66 1,000 66,000 19 Sale 33 1,000 33,000 28 Purchase 110 440 48,400 June 5 Sale 66 1,050 69,300...
LIFO Perpetual Inventory The beginning inventory for Dunne Co. and data on purchases and sales for...
LIFO Perpetual Inventory
The beginning inventory for Dunne Co. and data on purchases and
sales for a three-month period are as follows:
Date
Transaction
Number
of Units
Per
Unit
Total
Apr. 3
Inventory
25
$1,200
$30,000
8
Purchase
75
1,240
93,000
11
Sale
40
2,000
80,000
30
Sale
30
2,000
60,000
May 8
Purchase
60
1,260
75,600
10
Sale
50
2,000
100,000
19
Sale
20
2,000
40,000
28
Purchase
80
1,260
100,800
June 5
Sale
40
2,250
90,000
16
Sale...
LIFO Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and...
LIFO Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 84 $525 $44,100 8 Purchase 168 630 105,840 11 Sale 113 1,750 197,750 30 Sale 71 1,750 124,250 May 8 Purchase 140 700 98,000 10 Sale 84 1,750 147,000 19 Sale 42 1,750 73,500 28 Purchase 140 770 107,800 June 5 Sale...
LIFO Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and...
LIFO Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 78 $450 $35,100 8 Purchase 156 540 84,240 11 Sale 105 1,500 157,500 30 Sale 66 1,500 99,000 May 8 Purchase 130 600 78,000 10 Sale 78 1,500 117,000 19 Sale 39 1,500 58,500 28 Purchase 130 660 85,800 June 5 Sale...
FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for...
FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 90 $525 $47,250 8 Purchase 180 630 113,400 11 Sale 120 1,750 210,000 30 Sale 75 1,750 131,250 May 8 Purchase 150 700 105,000 10 Sale 90 1,750 157,500 19 Sale 45 1,750 78,750 28 Purchase 150 770 115,500 June 5 Sale 90 1,840...
FIFO Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and...
FIFO Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Number of Units Date Transaction Per Unit Total Apr. 3 Inventory $1,200 $30,000 8 Purchase 1,240 93,000 11 Sale 2,000 80,000 60,000 30 Sale May 8 Purchase 2,000 1,260 2,000 2,000 1,260 75,600 100,000 10 Sale 19 Sale 40.000 28 Purchase 100,800 June 5 Sale 2,250 90,000 16 Sale 2.250 56,250 21 Purchase...
LIFO Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and...
LIFO Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory $32,400 77,760 8 Purchase $450 540 1,500 1,500 11 Sale 144,000 30 Sale 90,000 May 8 Purchase 600 72,000 10 Sale 19 Sale 36 . 1,500 1,500 660 1,575 108,000 54,000 79,200 28 Purchase June 5 Sale 113,400 1.575 16 21 Sale...
.....................
LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Number Total of Units Date Transaction Per Unit 375 24,750 Apr. 3 Inventory 66 Purchase 8 132 450 59,400 11 Sale 88 1,250 110,000 30 Sale 55 1,250 68,750 Purchase 55,000 May 8 110 500 Sale 10 66 1,250 82,500 Sale 19 33 1,250 41,250 550 Purchase 28 110 60,500 Sale June 5 66 1,315 86,790 Sale...
LIFO Perpetual Inventory
The beginning inventory for Dunne Co. and data on purchases and
sales for a three-month period are as follows:
Date
Transaction
Number
of Units
Per
Unit
Total
Apr. 3
Inventory
25
$1,200
$30,000
8
Purchase
75
1,240
93,000
11
Sale
40
2,000
80,000
30
Sale
30
2,000
60,000
May 8
Purchase
60
1,260
75,600
10
Sale
50
2,000
100,000
19
Sale
20
2,000
40,000
28
Purchase
80
1,260
100,800
June 5
Sale
40
2,250
90,000
16
Sale...
FIFO Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Number of Units Date Transaction Per Unit Total Apr. 3 Inventory $1,200 $30,000 8 Purchase 1,240 93,000 11 Sale 2,000 80,000 60,000 30 Sale May 8 Purchase 2,000 1,260 2,000 2,000 1,260 75,600 100,000 10 Sale 19 Sale 40.000 28 Purchase 100,800 June 5 Sale 2,250 90,000 16 Sale 2.250 56,250 21 Purchase...
LIFO Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory $32,400 77,760 8 Purchase $450 540 1,500 1,500 11 Sale 144,000 30 Sale 90,000 May 8 Purchase 600 72,000 10 Sale 19 Sale 36 . 1,500 1,500 660 1,575 108,000 54,000 79,200 28 Purchase June 5 Sale 113,400 1.575 16 21 Sale...
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