Vaughn Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 45 $12 July 28 30 16 On June 1, Vaughn sold 25 units, and on August 27, 45 more units. Prepare the perpetual inventory schedule for the above transactions using FIFO. Product E2-D2 Date Purchases Cost of Goods Sold Balance May 7 $enter a dollar amount $enter a dollar amount $enter a dollar amount June 1 $enter a dollar amount $enter a dollar amount $enter a dollar amount July 28 $enter a dollar amount $enter a dollar amount $enter a dollar amount Aug. 27 $enter a dollar amount $enter a dollar amount $enter a dollar amount
Vaughn Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 45 $12 July 28 30 16 On June 1, Vaughn sold 25 units, and on August 27, 45 more units. Prepare the perpetual inventory schedule for the above transactions using FIFO. Product E2-D2 Date Purchases Cost of Goods Sold Balance May 7 $enter a dollar amount $enter a dollar amount $enter a dollar amount June 1 $enter a dollar amount $enter a dollar amount $enter a dollar amount July 28 $enter a dollar amount $enter a dollar amount $enter a dollar amount Aug. 27 $enter a dollar amount $enter a dollar amount $enter a dollar amount
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 50E: Inventory Costing Methods Crandall Distributors uses a perpetual inventory system and has the...
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Vaughn Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.
Date
|
Number of Units
|
Unit Cost
|
|||
---|---|---|---|---|---|
May 7
|
45 | $12 | |||
July 28
|
30 | 16 |
On June 1, Vaughn sold 25 units, and on August 27, 45 more units.
Prepare the perpetual inventory schedule for the above transactions using FIFO.
Product E2-D2
|
||||||
---|---|---|---|---|---|---|
Date
|
Purchases
|
Cost of Goods Sold
|
Balance
|
|||
May 7
|
$enter a dollar amount
|
$enter a dollar amount
|
$enter a dollar amount
|
|||
June 1
|
$enter a dollar amount
|
$enter a dollar amount
|
$enter a dollar amount
|
|||
July 28
|
$enter a dollar amount
|
$enter a dollar amount
|
$enter a dollar amount
|
|||
Aug. 27
|
$enter a dollar amount
|
$enter a dollar amount
|
$enter a dollar amount
|
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