Please do not give solution in image format thanku QuantityDate PurchasedApr. 1Apr. 10Apr. 15Apr. 20Apr. 24Apr. 30Apr. 30 Balance:LIFO MethodPortable Game PlayersPurchases Purchases QuantityUnit Cost Total CostSoldCost ofCost ofMerchandise MerchandiseSoldSoldTotal CostUnit Cost1000Inventory Inventory InventoryQuantity Unit Cost Total Cost Perpetual Inventory Using LIFOBeginning inventory, purchases, and sales data for portable game players are as follows:69 units @ $7254 units89 units @ $75Apr. 110152024InventorySale30PurchaseSale14 units28 units @ $78The business maintains a perpetual inventory system, costing by the last-in, first-out method.Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. UnderLIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column andLOWER unit cort first in the Inventon: Unit Cost column:Sale51 unitsPurchase

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Description: Please do not give solution in image format thanku QuantityDate PurchasedApr. 1Apr. 10Apr. 15Apr. 20Apr. 24Apr. 30Apr. 30 Balance:LIFO MethodPortable Game PlayersPurchases Purchases QuantityUnit Cost Total CostSoldCost ofCost ofMerchandise Merchandis

Under LIFO Method of Inventory valuation Company consider the inventory which is purchased last in…

Business

Accounting

Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: 69 units @ $72 54 units 89 units @ $75 51 units Apr. 11 10 15 20 24 30 Inventory Sale Purchase Sale Sale Purchase 14 units 28 units @ $78 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER nit enet firet in the Inventory Unit Cost rolumn

Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: 69 units @ $72 54 units 89 units @ $75 51 units Apr. 11 10 15 20 24 30 Inventory Sale Purchase Sale Sale Purchase 14 units 28 units @ $78 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER nit enet firet in the Inventory Unit Cost rolumn

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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