3.Beginning inventory, purchases and sales data for tennis rackets are as follows:
|
Apr 3 |
Inventory |
12 units |
@ |
$45 |
||
|
11 |
Purchase |
13 units |
@ |
$47 |
||
|
14 |
Sale |
18 units |
||||
|
21 |
Purchase |
9 units |
@ |
$60 |
||
|
25 |
Sale |
10 units |
||||
Complete the inventory cost card assuming the business maintains a perpetual inventory system and calculates the cost of merchandise sold and ending inventory using FIFO.
|
Purchases |
Cost of |
Inventory |
|||||||
|
Date |
Qty |
Unit Cost |
Total Cost |
Qty |
Unit Cost |
Total Cost |
Qty |
Unit Cost |
Total Cost |
|
Balances |
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