Question

2. Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows:...

2.

Perpetual Inventory Using LIFO

Beginning inventory, purchases, and sales for Item 88-HX are as follows:

July 1 Inventory 80 units @ $34
8 Sale 64 units
15 Purchase 89 units @ $36
27 Sale 75 units

Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on July 27 and (b) the inventory on July 31.

a. Cost of goods sold on July 27 $
b. Inventory on July 31 $
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: Oct....
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: Oct. 1 Inventory 80 units @ $17 8 Sale 64 units 15 Purchase 89 units @ $19 27 Sale 75 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Oct. 27 and (b) the inventory on Oct. 31. a. Cost of goods sold on Oct. 27 $ b. Inventory on Oct. 31
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: March...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: March 1 Inventory 94 units @ $25 5 Sale 75 units 11 Purchase 104 units @ $27 21 Sale 87 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on March 21 and (b) the inventory on March 31. a. Cost of merchandise sold on March 21 $ b. Inventory on March 31 $
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item CZ83 are as follows: March...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item CZ83 are as follows: March 1 Inventory 110 units @ $16 5 Sale 88 units 11 Purchase 122 units @ $19 21 Sale 102 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on March 21 and (b) the inventory on March 31. a. Cost of merchandise sold on March 21 $ b. Inventory on March 31 $
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: January...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: January 1 Inventory 110 units @ $17 5 Sale 88 units 11 Purchase 122 units @ $19 21 Sale 102 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on January 21 and (b) the inventory on January 31. a. Cost of merchandise sold on January 21 $ b. Inventory on January 31 $...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item CZ83 are as follows: March...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item CZ83 are as follows: March 1 Inventory 84 units @ $22 5 Sale 67 units 11 Purchase 93 units @ $25 21 Sale 78 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on March 21 and (b) the inventory on March 31. a. Cost of merchandise sold on March 21 $ b. Inventory on March 31 $
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: March...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: March 1 Inventory 84 units @ $15 5 Sale 67 units 11 Purchase 93 units @ $17 21 Sale 78 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on March 21 and (b) the inventory on March 31. a. Cost of merchandise sold on March 21 b. Inventory on March 31
erpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item Gidget are as follows: Sept....
erpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item Gidget are as follows: Sept. 1 Inventory 80 units at $175 10 Sale 65 units 18 Purchase 75 units at $180 27 Sale 70 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on September 27 and (b) the inventory on September 30. a. Cost of merchandise sold on September 27 $fill in the blank 1 b. Inventory...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: July...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: July 1 Inventory 64 units @ $24 9 Sale 42 units 13 Purchase 72 units @ $25 28 Sale 30 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on July 28 and (b) the inventory on July 31. a. Cost of merchandise sold on July 28 $ b. Inventory on July 31 $
Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct....
Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 64 units @ $24 Oct 7 Sale 49 units Oct 15 Purchase 76 units @ $28 Oct 24 Sale 24 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31.
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct....
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 43 units @ $17 7 Sale 31 units 15 Purchase 39 units @ $20 24 Sale 16 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods sold on October 24 $ b. Inventory on October 31
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT