Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 19 units @ $13 11 Purchase 15 units @ $18 14 Sale 24 units 21 Purchase 9 units @ $16 25 Sale 13 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 Purchases Inventory Goods Sold Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 11 $4 14 21 Accounting numeric field 25
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 19 units @ $13 11 Purchase 15 units @ $18 14 Sale 24 units 21 Purchase 9 units @ $16 25 Sale 13 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 Purchases Inventory Goods Sold Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 11 $4 14 21 Accounting numeric field 25
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:April
3 Inventory
19 units @ $13
11
Purchase
15 units @ $18
14 Sale
24 units
21 Purchase
9 units @ $16
25 Sale
13 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
$4
21
25
Ending inventory value
Total Cost of goods sold
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
t分
%24
%24

Transcribed Image Text:Beginning inventory, purchases, and sales data for tennis rackets are as follows:
April
3 Inventory
19 units @ $13
11 Purchase
15 units @ $18
14 Sale
24 units
21 Purchase
9 units @ $16
25 Sale
13 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
Purchases
Inventory
Goods Sold
Date
Qty.
Unit Cost
Total Cost
Qty.
Unit Cost
Total Cost
Qty.
Unit Cost
Total Cost
April 3
11
$
14
$
Accounting numeric field
25
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
%24
21
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