Question

Beginning inventory, purchases and sales data for T-shirts are as follows: Apr 3 Inventory 24 units...

Beginning inventory, purchases and sales data for T-shirts are as follows:

Apr 3

Inventory

24 units

@

$10

     11

Purchase

26 units

@

$12

     14

Sale

36 units

     21

Purchase

18 units

@

$15

     25

Sale

20 units

Assuming the business maintains a perpetual inventory system, calculate the cost of merchandise sold on April 14th and April 25th, as well as ending inventory as of April 30th, using FIFO

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