# Perpetual Inventory Using FIFO Beginning inventory, purchases, a

Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: June 1   Inventory 64 units @ \$95 6   Sale 52 units 14   Purchase 38 units @ \$101 19   Sale 21 units 25   Sale 21 units 30   Purchase 35 units @ \$108 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3.   Hide     a.  Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column. Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Date   Quantity Purchased   Purchases Unit Cost   Purchases Total Cost   Quantity Sold   Cost of Merchandise Sold Unit Cost   Cost of Merchandise Sold Total Cost   Inventory Quantity   Inventory Unit Cost   Inventory Total Cost June 1                           64   \$ 95   \$ 6,080 June 6               [removed]   \$ [removed]   \$ [removed]   [removed]   [removed]   [removed] June 14   [removed]   \$ [removed]   \$ [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] June 19               [removed]   [removed]   [removed]   [removed]   [removed]   [removed]                 [removed]   [removed]   [removed]             June 25               [removed]   [removed]   [removed]   [removed]   [removed]   [removed] June 30   [removed]   [removed]   [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] June 30   Balances                   \$ [removed]           \$ [removed]     Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: June 1   Inventory 43 units @ \$53 6   Sale 33 units 14   Purchase 58 units @ \$55 19   Sale 32 units 25   Sale 9 units 30   Purchase 33 units @ \$58 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4.   Hide     Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Merchandise Sold LIFO Method Portable DVD Players Date   Quantity Purchased   Purchases Unit Cost   Purchases Total Cost   Quantity Sold   Cost of Merchandise Sold Unit Cost   Cost of Merchandise Sold Total Cost   Inventory Quantity   Inventory Unit Cost   Inventory Total Cost June 1                           43   \$ 53   \$ 2,279 June 6               [removed]   \$ [removed]   \$ [removed]   [removed]   [removed]   [removed] June 14   [removed]   \$ [removed]   \$ [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] June 19               [removed]   [removed]   [removed]   [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] June 25               [removed]   [removed]   [removed]   [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] June 30   [removed]   [removed]   [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] June 30   Balance                   \$ [removed]           \$ [removed]           Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for July are as follows: Inventory   Purchases   Sales   July 1 3,600 units at \$30 July 10 1,800 units at \$32 July 12 2,520 units     July 20 1,620 units at \$34 July 14 2,160 units         July 31 1,080 units   Hide     a.  Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of merchandise sold for each sale and the inventory balance after each sale. Schedule of Cost of Merchandise Sold LIFO Method Prepaid Cell Phones Date   Quantity Purchased   Purchases Unit Cost   Purchases Total Cost   Quantity Sold   Cost of Merchandise Sold Unit Cost   Cost of Merchandise Sold Total Cost   Inventory Quantity   Inventory Unit Cost   Inventory Total Cost July 1                           3,600   \$ 30   \$ 108,000 July 10   [removed]   \$ [removed]   \$ [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] July 12               [removed]   \$ [removed]   \$ [removed]   [removed]   [removed]   [removed]                 [removed]   [removed]   [removed]             July 14               [removed]   [removed]   [removed]   [removed]   [removed]   [removed] July 20   [removed]   [removed]   [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] July 31               [removed]   [removed]   [removed]   [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] July 31   Balances                   \$ [removed]           \$ [removed]         Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for prepaid cell phones for August are as follows: Inventory   Purchases   Sales   August 1 2,100 units at \$39 August 10 1,050 units at \$41 August 12 1,470 units     August 20 945 units at \$43 August 14 1,260 units         August 31 630 units   Hide     Assuming that the perpetual inventory system is used, costing by the FIFO method, determine the cost of the merchandise sold for each sale and the inventory balance after each sale. Schedule of Cost of Merchandise Sold FIFO Method Prepaid Cell Phones Date   Purchases Quantity   Purchases Unit Cost   Purchases Total Cost   Cost of Merchandise Sold Quantity   Cost of Merchandise Sold Unit Cost   Cost of Merchandise Sold Total Cost   Inventory Quantity   Inventory Unit Cost   Inventory Total Cost Aug. 1                           2,100   \$ 39   \$ 81,900 Aug. 10   [removed]   \$ [removed]   \$ [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] Aug.12               [removed]   \$ [removed]   \$ [removed]   [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] Aug. 14               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed]   [removed]   [removed]   [removed] Aug. 20   [removed]   [removed]   [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] Aug. 31               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed]   [removed]   [removed]   [removed] Aug. 31   Balances                   \$ [removed]           \$ [removed]         FIFO and LIFO Costs Under Perpetual Inventory System The following units of a particular item were available for sale during the year: Beginning inventory 21 units @ \$41 Sale 13 units @ \$66 First purchase 22 units @ \$43 Sale 21 units @ \$68 Second purchase 24 units @ \$44 Sale 11 units @ \$70 The firm uses the perpetual inventory system, and there are 22 units of the item on hand at the end of the year. a.  What is the total cost of the ending inventory according to FIFO? \$[removed] b.  What is the total cost of the ending inventory according to LIFO? \$[removed]

Don't use plagiarized sources. Get Your Custom Essay on
Perpetual Inventory Using FIFO Beginning inventory, purchases, a
From \$10/Page
Order NOW For A 35% Discount!
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Homework Writing

Do you need to ace your test? We have qualified writers to assist you in writing 100% quality homework writing. Mycoursewriter offers students unique and personalized custom papers that help them in getting good grades. Our academic experts will assist you with your dissertation papers, thesis writing, research papers, term papers, and case study homework help. Our writers are experienced and have perfected the art of crafting the best essay writing papers regardless of your academic level. Order now and get our superb homework writing services.

A student needs professional assistance outside class time. Before hiring our writers, they undergo thorough tests and strict educational backgrounds. After passing a test, our writers undergo training to ensure they deliver expert professional papers to our customers. We ensure they meet the timely delivery of papers and follow our customers' provided instructions. Every writer is an ENL writer and is from the USA, Canada, UK, or Australia. Our experts approach papers effectively depending on their area of specialization.

Affordable Price Guarantees

Is the deal too good to be true? Mycoursewriter is the most affordable assignment help website on the market. We consider students' daily needs for academic help. Our paper costs are reasonably priced to approximately 90% of students around the globe. Our main aim is to ensure students achieve academic excellence, and we believe inconsiderable prices should not hinder students from getting quality homework writing help. In case of any dissatisfaction, we offer unlimited revisions and rewrites without extra charges.

Timely delivery of papers

The ultimate deal-breaker in achieving good grades is submitting imitative papers. Plagiarism is a breach of examination standards and has serious consequences. Students need to deliver papers written in their understanding by paraphrasing their research findings and relevant citations. Our expert's primary consideration is providing free plagiarized papers that meet the lecturers' requirements. Our editors will proofread your paper before delivery ad ensure your papers will not be substandard. We guarantee extreme originality, and in case of any customer concerns, we offer a plagiarism report.

All Round the clock Customer Support

Our website is user-friendly and super useful! Mycoursewriter is the most trusted online writing website always available to provide you with assignment writing services that you need. Our primary concern is meeting customer need specifications by our friendly customer support team that Is available all the time. Our website usability is self-learnable but in case of any problem, feel free to contact us directly through our website email: support@mycourserwiter.com. We have diligently satisfied thousands of students, and you can witness this on our sites' review page.

Try it now!

## Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
\$0.00

How it works?

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Advantages of Using Our Assignment writing Services

Mycoursewriter welcomes you for superb essay writing services. We are a legit site offering help with your most challenging homework writing assignments at affordable prices. Your essay paper will be assigned to a professional writer who will craft the paper from scratch according to your provided instructions.

## Essay Writing and Proofreading Services

Essay writing is a common assignment writing for most college students. It takes a lot of time to craft a complete perfect essay. Mycourserwiter offers the best essay writing and proofreading services for most college students. Your paper is assigned to an expert writer who does thorough research on fresh ideas and personalizes your essay paper according to your assignment writing guidelines. Our essays are entirely exceptional and undergo a strict procedure that includes papers free from plagiarism and thorough proofreading.