Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 22 units @ $17 11 Purchase 16 units @ $16 14 Sale 28 units 21 Purchase 13 units @ $21 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 FI Cost of Inventory Purchases Goods Sold Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 22 17 374 11 16 16 256 22 $ 17 374 16 16 256 14 22 17 $ 21 13 21 273 25 Total Cost of goods sold Ending inventory value

Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 22 units @ $17 11 Purchase 16 units @ $16 14 Sale 28 units 21 Purchase 13 units @ $21 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 FI Cost of Inventory Purchases Goods Sold Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 22 17 374 11 16 16 256 22 $ 17 374 16 16 256 14 22 17 $ 21 13 21 273 25 Total Cost of goods sold Ending inventory value

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Description: Beginning inventory, purchases, and sales data for tennis rackets are as follows:April3 Inventory22 units @ $1711Purchase16 units @ $1614Sale28 units21Purchase13 units @ $2125 Sale12 unitsComplete the inventory cost card assuming the business mainta

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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