Question: Beginning inventory, purchases, and sales data for cell phones for March are as follows: Assuming that the perpetual inventory system is used, costing by the

Beginning inventory, purchases, and sales data for cell phones for March are as follows:

Beginning inventory, purchases, and sales data for cell phones for 120386

Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit6.

Inventory Purchases Sales 134 25 Units at $90 Mr. 5 20 units at $94 Mar. 9 13 31 Mar. 1 18 Units 20 units 8 units 21 15 units at $95

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