Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory Inventory Unit Cost Inventory Total Cost 姐 14 266 Complete the inventory record assuming the business maintains a perpetual inventory system, and determine the cost of goods sold and ending inventory using FIFO. 19 units @ $14 11 Purchase 14 Sale 21 Purchase 14 units @ $16 23 units 11 units @ $22 25 Sale 12 units 19 14 Date Purchases Qty Purchases Unit Cost Purchases Cost of Goods Sold Total Cost Qty Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Qty April 3 19 11 14 16 224 14 21 11 22 25 Balances SA 242 19 14 16 St SA A A फ เที S 1.1* फ 14 16 16 S S 16 22 22 266 224 SA S 1 फ 242
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory Inventory Unit Cost Inventory Total Cost 姐 14 266 Complete the inventory record assuming the business maintains a perpetual inventory system, and determine the cost of goods sold and ending inventory using FIFO. 19 units @ $14 11 Purchase 14 Sale 21 Purchase 14 units @ $16 23 units 11 units @ $22 25 Sale 12 units 19 14 Date Purchases Qty Purchases Unit Cost Purchases Cost of Goods Sold Total Cost Qty Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Qty April 3 19 11 14 16 224 14 21 11 22 25 Balances SA 242 19 14 16 St SA A A फ เที S 1.1* फ 14 16 16 S S 16 22 22 266 224 SA S 1 फ 242
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:Beginning inventory, purchases, and sales data for tennis rackets are as follows:
April 3 Inventory
Inventory
Unit Cost
Inventory
Total Cost
姐
14
266
Complete the inventory record assuming the business maintains a perpetual inventory system, and determine the cost of goods sold and ending inventory using FIFO.
19 units @ $14
11 Purchase
14 Sale
21 Purchase
14 units @ $16
23 units
11 units @ $22
25 Sale
12 units
19
14
Date
Purchases
Qty
Purchases
Unit Cost
Purchases
Cost of
Goods Sold
Total Cost
Qty
Cost of
Goods Sold
Unit Cost
Cost of
Goods Sold
Total Cost
Inventory
Qty
April 3
19
11
14
16
224
14
21
11
22
25
Balances
SA
242
19
14
16
St
SA
A
A
फ
เที
S
1.1*
फ
14
16
16
S
S
16
22
22
266
224
SA
S
1
फ
242
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