Exercise 3 Perpetual Inventory Log Guitars and more had a large inventory of guitars and other musical instruments. Using the average inveteracy method and the Perpetual Inventory System, the company recorded initial Inventory, purchases, and sales. Determines the cost per unit and cost of the merchandise sold. Date Detail Amount Unit cost (unit cost) May 1 Initial inventory $75 Sale 4. 8. Purchase 11 85 13 Sale 30 Sale 5,
Exercise 3 Perpetual Inventory Log Guitars and more had a large inventory of guitars and other musical instruments. Using the average inveteracy method and the Perpetual Inventory System, the company recorded initial Inventory, purchases, and sales. Determines the cost per unit and cost of the merchandise sold. Date Detail Amount Unit cost (unit cost) May 1 Initial inventory $75 Sale 4. 8. Purchase 11 85 13 Sale 30 Sale 5,
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Exercise 3 Perpetual Inventory Log
Guitars and more had a large inventory of guitars and other musical instruments. Using the
average inveteracy method and the Perpetual Inventory System, the company recorded initial
Inventory, purchases, and sales. Determines the cost per unit and cost of the merchandise sold.
Date
Detail
Amount
Unit cost (unit cost)
May 1
Initial inventory
$75
Sale
4.
8.
Purchase
11
85
13
Sale
30
Sale
5,
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