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Required information Middle Tennessee Company starts a merchandising business on December 1 and enters into...

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Accounting

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Required information Middle Tennessee Company starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Middle Tennessee Company sells 18 units for $10 each Porchases on December 7 Purchases on December 14 Purchases on December 21 Beunits 54.00 cost 26 units 30.00 cost 18 units 57.00 cost Sored Help Save Required: Middle Tennessee Company uses a perpetual inventory system and the FIFO method. Complete the table below to determine the costs assigned to the December 31 ending inventory and December cost of goods sold. Perpetual. ElFO: Date of Units Goods Purchased Cost Per Goods Unit Purchased Cost of Goods Sold #of Units Cost Per Cost of Goods Sold Unit Sold December 7 Inventory Balance #of Units Cost Per Inventory Unit Balance December 14 December 15 December 21 Totals

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