Question: FIFO METHOD, LIFO METHOD, and weighted average please Aval: beginning Inu 14 books @ $10 Aug 3: 3:8 books @ $10 each sold 8 books



Aval: beginning Inu 14 books @ $10 Aug 3: 3:8 books @ $10 each sold 8 books @$22 each Aug 12: Purchase 10 books @ $18 each Aug15: Sold 12 books @ $ 22 each 5 books @ $10 each & 7 @ $18 ea. Aug 20: Purchased 2 books @ $2leach Aug 28: sold 3 books @126 each 2 books @ $ 18 each & I book @zlea FIFO method LIFO method WEIGHTED AVERAGE method b. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the FIF Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the e Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Aug. 1 3 12 15 20 28 c. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the LIFO Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on ha into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Aug. 1 3 12 15 20 28 Totals d. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the wei Enter any number in the edit fields and then continue to the next question. Save for Later Totals d. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the wei Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the en to the nearest dollar.) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Aug. 1 3 12 15 20 28 Totals Enter any number in the edit fields and then continue to the next question. Save for Later
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