Please do not give solution in image format thanku Perpetual Inventory using LIFOBeginning inventory, purchases, and sales data for DVD players are as follows:140 units at $29110 units150 units at $30120 unitsNov. 1 Inventory10 Sale15 Purchase20 Sale24 Sale30 PurchaseThe business maintains a perpetual inventory system, costing by the last-in, first-out method.Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustratein inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column andUnit Cost column.DateNov. 1Nov. 10Nov. 15Nov. 2035 units140 units at $34LIFO MethodDVD PlayersCost ofCost ofQuantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Inventory InventoryPurchased Unit Cost Total Cost Sold Unit CostTotal Cost Quantity Unit Cost Total Cost000 20 Sale24 Sale30 PurchaseThe business maintains a perpetual inventory system, costing by the last-in, first-out method.Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units arein inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the InventoryUnit Cost column.DateNov. 1Nov. 10Nov. 15.Quantity Purchases Purchases QuantityPurchased Unit Cost Total CostSoldNov, 201Nov. 24Nov. 300120 units35 units140 units at $340Nov. 30 BalancesLIFO MethodDVD Players00Cost ofCost ofGoods Sold Goods Sold Inventory Inventory InventoryUnit Cost Total Cost Quantity Unit Cost Total Cost888000000000888Nave

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Description: Please do not give solution in image format thanku Perpetual Inventory using LIFOBeginning inventory, purchases, and sales data for DVD players are as follows:140 units at $29110 units150 units at $30120 unitsNov. 1 Inventory10 Sale15 Purchase20 Sale

The inventory can be valued using various methods as FIFO, LIFO and average method. LIFO stands for…

Business

Accounting

Perpetual inventory using Beginning inventory, purchases, and sales data for DVD players are as follows: Nov. 1 Inventory 140 units at $29 10 Sale 110 units 15 Purchase 150 units at $30 20 Sale 120 units 24 Sale 35 units 30 Purchase 140 units at $34 The business maintains a perpetual inventory system, costing by the last-in, first-out method.

Perpetual inventory using Beginning inventory, purchases, and sales data for DVD players are as follows: Nov. 1 Inventory 140 units at $29 10 Sale 110 units 15 Purchase 150 units at $30 20 Sale 120 units 24 Sale 35 units 30 Purchase 140 units at $34 The business maintains a perpetual inventory system, costing by the last-in, first-out method.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter6: Inventories

Section: Chapter Questions

Problem 3E: Perpetual inventory using FIFO Beginning inventory, purchases, and sales data for DVD players are as...

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