Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 18 units $12 11 Purchase 16 units $18 14 Sale 20 units 21 Purchase 9 units $15 25 Sale 12 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using LIFO Cost of Goods Sold Inventory Purchases Unit Cost Qty. Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Date April 3 11 14 838 21 638 83. EU Total Cost of goods sold Ending Inventory value 25

Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 18 units $12 11 Purchase 16 units $18 14 Sale 20 units 21 Purchase 9 units $15 25 Sale 12 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using LIFO Cost of Goods Sold Inventory Purchases Unit Cost Qty. Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Date April 3 11 14 838 21 638 83. EU Total Cost of goods sold Ending Inventory value 25

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Description: Beginning inventory, purchases, and sales data for tennis rackets are as follows:April3 Inventory 18 units$1211 Purchase16 units$1814 Sale20 units21 Purchase9 units $15.25 Sale12 unitsComplete the inventory cost card assuming the business maintains

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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