Complete the following table using the perpetual LIFO method of inventory flow: Purchases Cost of Goods Sold
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Question:
Complete the following table using the perpetual LIFO method of inventory flow:
Purchases | Cost of Goods Sold | Inventory | |||||||||
| Date | Qty. | Unit Cost | Total Cost | Qty. | Unit Cost | Total Cost | Qty. | Unit Cost | Total Cost | ||
| July 2 | 600 | $12.00 | $ | $ | $ | ||||||
| $ | $ | ||||||||||
| 5 | 200 | $13.00 | $ | $ | $ | ||||||
| 200 | $ | $ | |||||||||
| 7 | 100 | $ | $ | $ | $ | ||||||
| $ | $ | ||||||||||
| 10 | 325 | $14.00 | $ | $ | $ | ||||||
| 325 | $ | $ | |||||||||
| 12 | 125 | $ | $ | $ | $ | ||||||
| $ | $ | ||||||||||
| 18 | 250 | $13.00 | $ | $ | $ | ||||||
| 22 | 250 | $ | $ | ||||||||
| 5 | $ | $ | $ | $ | |||||||
| 25 | 300 | $ | $ | $ | $ | ||||||
| $ | $ | ||||||||||
| 28 | 330 | $15.00 | $ | $ | $ | ||||||
| $ | $ | ||||||||||
| 31 | 75 | $ | $ | $ | $ | ||||||
| 31 | Bal. | $ | $ | ||||||||
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