LIFO perpetual inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Date Transaction Apr. 3 Inventory 8 Purchase 11 Sale 30 Sale May 8 Purchase 10 Sale 19 Sale 28 Purchase June 5 Sale 16 Sale 21 Purchase 28 Sale Number of Units 66 132 88 55 110 66 33 110 66 88 198 99 Per Unit $225 270 750 750 300 750 750 330 790 790 360 790 Total $14,850 35,640 66,000 41,250 33,000 49,500 24,750 36,300 52,140 69,520 71,280 78,210 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LO Dunne Co. Schedule of Cost of Goods S LIFO Method For the Three Months Ended Ju

LIFO perpetual inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Date Transaction Apr. 3 Inventory 8 Purchase 11 Sale 30 Sale May 8 Purchase 10 Sale 19 Sale 28 Purchase June 5 Sale 16 Sale 21 Purchase 28 Sale Number of Units 66 132 88 55 110 66 33 110 66 88 198 99 Per Unit $225 270 750 750 300 750 750 330 790 790 360 790 Total $14,850 35,640 66,000 41,250 33,000 49,500 24,750 36,300 52,140 69,520 71,280 78,210 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LO Dunne Co. Schedule of Cost of Goods S LIFO Method For the Three Months Ended Ju

Name: LIFO perpetual inventoryThe beginning inventory at Dunne Co. and data
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Description: LIFO perpetual inventoryThe beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows:Numberof UnitsDate TransactionApr. 3 Inventory8 Purchase11 Sale30 SaleMay 8 Purchase10 Sale19 Sale28 PurchaseJune 5S

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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