Business, 26.11.2019 06:31 krystalhurst97
Lifo perpetual inventory the beginning inventory of merchandise at dunne co. and data on purchases and sales for a three-month period ending june 30 are as follows:
date transaction number of units per unit total
apr. 3 inventory 84, $225, $18,900
8 purchase 168, 270, 45,360
11 sale 113, 750, 84,750
30 sale 71, 750, 53,250
may 8 purchase 140, 300, 42,000
10 sale 84, 750, 63,000
19 sale 42, 750, 31,500
28 purchase 140, 330, 46,200
june 5 sale 84, 790, 66,360
16 sale 112, 790, 88,480
21 purchase 252, 360, 90,720
28 sale 126, 790, 99,540
required: 1. record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in exhibit 4, using the last-in, first-out method. 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 unit cost first in the inventory unit cost column. dunne co. schedule of cost of merchandise sold lifo method for the three-months ended june 30 purchases cost of merchandise sold inventory date quantity unit cost total cost quantity unit cost total cost quantity unit cost total cost apr. 3 $ $ apr. 8 $ $ apr. 11 $ $ apr. 30 may 8 may 10 may 19 may 28 june 5 june 16 june 21 june 28 june 30 balances $ $ 2. determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. total sales $ total cost of merchandise sold gross profit $ 3. determine the ending inventory cost on june 30. $
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Lifo perpetual inventory the beginning inventory of merchandise at dunne co. and data on purchases a...
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