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eBook Show Me How LIFO Perpetual Inventory The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31 are as follows: Number Date Transaction of Units Per Unit Total Jan. 1 Inventory 7,500 $75.00 5562,500 10 Purchase 22,500 85.00 1,912,500 28 Sale 11,250 150.00 1.687,500 30 Sale 3,750 150.00 562.500 Feb. 5 Sale 1,500 150.00 225,000 10 Purchase 54,000 87.50 4,725,000 16 Sale 27,000 160.00 4,320,000 28 Sale 25,500 160.00 4,060,000 Mar. Purchase 45,000 89.50 4,027.500 14 Sale 30.000 160.00 4,800,000 25 Purchase 7,500 90.00 675,000 30 Sale 26.250 160.00 4,200,000 Required HEET 1. Record the inventory, purchases, and cost of goods sold data in perpetual inventory record similar to the one ilustrated in the wing the last in, fast-out method. Under LIFO, if units are in inventory at the different costs, enter the units with the HIGHER un cost first in the cost of Goods Sold Unit Cost column and LOWER it cost first in the Inventory Unit Cost column Round unit cost to two decimal places, rotary LGO LGO Previous Not) Check My Work mar Game G Am W G 16 MacBook Air a Ahme G Sign in - Google a. * Apply Texas Student Verificati Home Federal St. Login - FAFSA on. M Mathway Hasic Salve the Equatio eBook Show Me How 1. Record the inventory, purchases, and cost of goods sold data in a perpetual Inventory record similar to the one illustrated in Exhibit 4, using the last-in, first-out method. Onder LIFO, If units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the cost of Goods Sold Unit Cost calumn and LOWER unit cost first in the Inventory Unit Cost column. Round unit cost to two decimal places, if necessary. Midnight Supplies Schedule of Cost of Goods Sold LIFO Method For the Three Months Ende March 31 Purchases Cost of Goods Sold Date Quantity Unit Cost Total Cont Quantity Unit Cost Total Cost Jan. 1 Jan. 10 22,500 85 $ 1,912,500 Jan 28 11,250V 85 956,250 3,750 Jan. 30 85 318,750 Feb. 85 1,500 127,500 Check My Work mallinen CE Sint Anne Graine w P 16 MacBook Air G -G09... * Apply Texas Student Verdicati Home Federal St Login - FAFSA on. M Mathway i Basie. Solve the Equatio. cBook Show Me How Feb. 10 54,000 87.50 4,725,000 Feb. 16 27,000 87.50 2,362,500 25,500 Feb. 28 87.50 2,231,250 45,000 89.50 4,027,500 Mar. 5 30,000 89.50 2,685,000 Mar. 14 Previous Next > Check My Work Fallinen Can Sun Acc Gradine N W P 16 mentSessionLocator a&inprogress false * ApplyTexas 3: Student Verificati. Home Federal St... Login - FAFSA on. hma G Sign in - Google a. M Mathway i Basic Solve the Equatio... eBook Show Me How Mar. 25 7,500 90 675,000 7,500 90 675,000 Mar. 30 Mar. 31 Balances maling Cuando Sumit demand for farline W 161 eBook Show Me How Cost of Goods Sold Unit Cost bat Quantity Total Cost Inventory Unit Cost Quantity Total Cost 7,500 75 > 562,500 7,500 75 500 562,500 22,500 B5 1,912,500 11,250 85 956,250 3,750 85 318,750 $ Determine the inventory cost by the vehted average cost method. Round your answer to the nearest dolar. o 50 Previous Check My Work All work save Emaiuto Save and En Submit Anment for Grading w P G 16 A MacBook Air Perpetual Inventory using FIFO The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,500 units at $42 Apr. 19 2,800 units June 30 Purchase 5,000 units at $48 Sept. 2 Sale 6,200 units Sale Nov. 15 Purchase 2,300 units at $50 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. TH Open spreadsheet The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each salt, assuming the first in first out method. Present 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. Round your answers for quantity values to the nearest whole number, for unit cost values to the nearest cent, and for total cost values to the nearest doita. Schedule of Cost of Goods Sold FIFO Method Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Tot Check My Work Save and te Emal instructor Submit Assignment for Grading All work saved 16 w A Macbook The firm maintains a perpetual Inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the first in, first- out method. Present the data in the form illustrated in Exhibit 3. Under FIFO,Funits 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. Round your answers for quantity values to the nearest whole number, for unit cost values to the nearest cent, and for total cost values to the nearest dollar. Schedule of Cost of Goods Sold FIFO Method Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Tot Jan. 1 Apr. 19 Pune 30 Sept. 2 Nov. 15 Dec. 31 Balances Check My Work All work saved Email Instructor Save and Ex Submit Assignment for Grading N W G 05 16 MacBook Air

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