Citerion Cycles uses the FIFO inventory method. Citerion started October with five bicycles that cost $ each. On October Citerion bought bicycles at $ each. On October Citerion sold bicycles. Prepare Citerion's perpetual inventory record
Prepare the perpetual inventory record. Start by entering the opening inventory balance. Enter the transactions in chronological order. When entering sales, enter the first cost to come out of inventory on the first line. Be sure to calculate the balance after each transaction.
Use a minus sign or parentheses when subtracting numbers.
tableCiterion Cycles,DateQuantity,Unit Cost,Total CostOctober October BalanceOctober October Ending Inventory,,,
