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etual inventory using FIFO inning inventory, purchases, and sales data for DVD players are as...

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Accounting

etual inventory using FIFO
inning inventory, purchases, and sales data for DVD players are as follows:
Nov. 1 Inventory
64 units at $78
10 Sale
52 units
15 Purchase
37 units at $82
20 Sale
17 units
24 Sale
17 units
30 Purchase
39 units at $87
he business maintains a perpetual inventory system, costing by the first-in, first-out method.
a. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. Under FIFO, if units
are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column.
First-in, First-out Method
DVD Players
image

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