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MNC B F G H 1a) This Company uses the perpetual inventory method and incurred the following transactions. On a separate piece of paper for excel sheet) calculate the total cost of good sold for November and ending inventory. Then enter the answers (rounded to the penny in the space provided below. For the specific ID method, assume half the ending inventory is from the 11/15 purchase and the half is from 11/1 beginning inventory. Date Units Sper Unit Total Beg. Inv. 1-Nov 24 X $1.00 $24.00 Purchase 5-Nov 16 X $1.10 $17.60 Purchase 15-Nov 40 X $1.20 $48.00 Sale 20-Nov 70 X $2.40 $168.00 (at retail price) Purchase 25-Nov 30 X $1.40 $42.00 Sale 28-Nov 20 $2.50 S50.00 (at retail price) 15 16 Specific ID FIFO LIFO Weighted Ave. 18 Total COGS End Iny 21 1b) Record Nov 20 journal entry assuming LIFO and the goods were sold on account: General Journal Account/Explanation PR Debit Credit Date 11/20 28 24 25 26 27 28 29 30 31 (Record sale on account assuming LIFO method) 1 2 3 4 5 6 7-9