Chapter 06 Homework Date Jan. 1 Apr. 19 Perpetual Inventory using LIFO The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,000 units at $50 Apr. 19 2,500 units June 30 4,500 units at $54 Sept. 2 5,000 units Nov. 15 2,000 units at $56 The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the last-in, first-out method. Present the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost column. LIFO Method June 30 June 30 Sept. 2 Sept. 2 Nov, 15 Check My Work Sale Purchase Sale Purchase eBook Purchases Quantity Purchases Unit Cost Purchases Total Cost Cost of Goods Sold Quantity 00 Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost 00 Inventory Quantity Inventory Unit Cost V Inventory Total Cost Previous * D Next >

Aerpenve invertary valing uto tan1 Invevtory 1,000 units an 350 Apt 19 seiv 2,900 went June 30 Nerenase 4,900 wits at ist segi2 Salv 3.006 ants Nor is Arobar 2,000 vent as 134 uro Methes