The beginning inventory for Francesca Co and data on purchases and sales for a three-month period are shown in Problem 6-1B.

1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 4, using the last-in, first-out method.
2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period.
3. Determine the ending inventory cost.

Data from Problem 6-1B:

The beginning inventory of merchandise at Francesca Co. and data on purchases and sales for a three-month period are as follows:

Transcribed Image Text:

Number of Units Per Total Transaction July 3 Inventory 8 Purchase Date Unit $1,500 $112,500 75 150 270,000 1,800 11 Sale 90 3,000 270,000 30 Sale 3,000 135,000 45 Aug. 8 Purchase 125 2,000 250,000 10 Sale 3,000 3,000 330,000 240,000 110 19 Sale 80 28 Purchase 2,200 220,000 100 Sept. 5 Sale 60 3,500 210,000 16 Sale 3,500 175,000 50 Purchase 2,400 432,000 21 180 28 Sale 90 3,500 315,000