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The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 3,800 units at $40 Apr. 19 2,600 units June 30 4,400 units at $44 Sept. 2 5,100 units 2,000 units at $46 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 last-in, first- Present the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two or more different costs, enter the units with the LOWER unit cost first Unit Cost column. Nov. 15 Date Jan. 1 Apr. 19 June 30 June 30 Sept. 2 Sept. 2 Sale Purchase Sale Purchase Purchases Quantity 4,400 Purchases Unit Cost 44 Purchases Total Cost $ 193,600 Cost of Goods Sold Quantity 2,600 4,400 LIFO Method 700 Cost of Goods Sold Unit Cost 40 44 40 Cost of Goods Sold Total Cost 104,000 193,600 28,000 V Inventory Quantity 3,800 1,200 1,200 4,400 Inv Un

The following units of a particular item were available for sale during the calendar vear: The firm maintains a perpetual inventory svstem, Determine the cost of goods sold for each sale and the imventory balance after each sale, assuming the last-in, first Present the data in the form lllustrated in Exhibht 4. Under LFO, If units are in imventory at two or more different costs, enter the units with the LOWER unit cost frat unit cost column. LIFo Method

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