Bob's Bikes and Repairs uses the FIFO inventory method. Bob's Bikes and Repairs started July with...

 

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Bob's Bikes and Repairs uses the FIFO inventory method. Bob's Bikes and Repairs started July with 10 helmets that cost $59 each. On July 19, Bob's Bikes and Repairs bought 16 helm Bob's Bikes and Repairs sold 11 helmets. Prepare a perpetual inventory record for Bob's Bikes and Repairs. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transa perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) FIFO: Purchases Cost of goods sold Inventory on hand Unit Total Unit Total Unit Total Date Qty Cost Cost Qty Cost Cost Qty Cost Cost Jul 1 19 28 Total Bob's Bikes and Repairs uses the FIFO inventory method. Bob's Bikes and Repairs started July with 10 helmets that cost $59 each. On July 19, Bob's Bikes and Repairs bought 16 helm Bob's Bikes and Repairs sold 11 helmets. Prepare a perpetual inventory record for Bob's Bikes and Repairs. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transa perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) FIFO: Purchases Cost of goods sold Inventory on hand Unit Total Unit Total Unit Total Date Qty Cost Cost Qty Cost Cost Qty Cost Cost Jul 1 19 28 Total

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