Question: Complete the grid below; calculate COGS for the week and ending inventory LIFO printout Perpetual Inventory using LIFO - Valentines boxed candy Brendan is selling
LIFO printout Perpetual Inventory using LIFO - Valentines boxed candy Brendan is selling Valentines Day chocolates in heart-shaped boxes. He uses a perpetual inventory system to record his cost data using LIFO. Complete the grid below, calculate COGS for the week and ending inventory. Sunday At the start of the period, he has 50 units in inventory which he purchased at $10 per unit. Monday He sells 20 units. He purchases 40 more units at a cost of $12 per unit (stocking up for Valentine's Day) Tuesday He sells 20 units. Wednesday He sells 15 units. He purchases 30 more units at $15 per unit. Thursday He sells 20 units. Friday He buys 40 units at a price of $14 per unit. He sells 45 units. Saturday He buys 5 units at $17 per unit. LIFO Date Purchases Unit $ Tots Qty Cost of Goods Sold Qty Units Tot $ Qty 50 Inventory Unit $ Tot $ $10 $500 Sunday Monday Tuesday Wednesday Thursday Friday Saturday
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