Béğinning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 18 units @ $12 11 Purchase 17 units @ $19 14 Sale 22 units 21 Purchase 12 units @ $17 25 Sale 19 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 FIFO. Cost of Inventory Purchases Goods Sold Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 11 14 21 88.8 25 Total Cost of goods sold Ending inventory value
Béğinning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 18 units @ $12 11 Purchase 17 units @ $19 14 Sale 22 units 21 Purchase 12 units @ $17 25 Sale 19 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 FIFO. Cost of Inventory Purchases Goods Sold Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 11 14 21 88.8 25 Total Cost of goods sold Ending inventory value
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Beginning inventory, purchases, and sales data for tennis rackets are as follows:
April
3 Inventory
18 units @ $12
11 Purchase
17 units @ $19
14 Sale
22 units
21 Purchase
12 units @ $17
25 Sale
19 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 FIFO.
Cost of
Inventory
Purchases
Goods Sold
Date
Qty.
Unit Cost
Total Cost
Qty.
Unit Cost
Total Cost
Qty.
Unit Cost
Total Cost
April 3
11
14
21
25
Total Cost of goods sold
Ending inventory value
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