Mikes Powersports uses the FIFO inventory method. Mikes Powersports started August with 10 helmets that cost ($54)
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Mike’s Powersports uses the FIFO inventory method. Mike’s Powersports started August with 10 helmets that cost \($54\) each. On August 19, Mike’s Powersports bought 15 helmets at \($56\) each. On August 28, Mike’s Powersports sold 12 helmets.
Prepare a perpetual inventory record for Mike’s Powersports.
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