Ch 7-2 Practice Exercises eBook Show Me Hovw Print Item 1. PE 07-02 ALGO Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: 2. PE.07-03.ALGO October 1 Inventory 88 units @ $33 70 units 98 units @ $37 82 units 3. PE-07-04A 5 Sale 11 Purchase 21 Sale 4. PE 07-05 ALGO Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on October 21 and (b) the inventory on October 31 a. Cost of merchandise sold on October 21 3,034 b. Inventory on October 31 5. PE-07-06ALGO 1,122X eedback Check My Work 0 more Check My Work uses remaining Previous Next Progress: 215 items Assignment Score: 36.67% All work saved Email InstructorSave and Exit Submit Assignment for Grading
Ch 7-2 Practice Exercises eBook Show Me Hovw Print Item 1. PE 07-02 ALGO Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: 2. PE.07-03.ALGO October 1 Inventory 88 units @ $33 70 units 98 units @ $37 82 units 3. PE-07-04A 5 Sale 11 Purchase 21 Sale 4. PE 07-05 ALGO Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on October 21 and (b) the inventory on October 31 a. Cost of merchandise sold on October 21 3,034 b. Inventory on October 31 5. PE-07-06ALGO 1,122X eedback Check My Work 0 more Check My Work uses remaining Previous Next Progress: 215 items Assignment Score: 36.67% All work saved Email InstructorSave and Exit Submit Assignment for Grading
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
How do I find the value of the inventory of october 31? I tried solving for it but did not get the correct value

Transcribed Image Text:Ch 7-2 Practice Exercises
eBook
Show Me Hovw
Print Item
1. PE 07-02 ALGO
Perpetual Inventory Using LIFO
Beginning inventory, purchases, and sales for Item HM46 are as follows:
2. PE.07-03.ALGO
October 1 Inventory
88 units @ $33
70 units
98 units @ $37
82 units
3. PE-07-04A
5 Sale
11 Purchase
21 Sale
4. PE 07-05 ALGO
Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on October 21 and (b) the inventory on October 31
a. Cost of merchandise sold on October 21 3,034
b. Inventory on October 31
5. PE-07-06ALGO
1,122X
eedback
Check My Work 0 more Check My Work uses remaining
Previous
Next
Progress: 215 items
Assignment Score: 36.67%
All work saved
Email InstructorSave and Exit Submit Assignment for Grading
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