Hello,

Please, note I will need some help with the issue below. The screenshot is not great, I hope it works

Perpetual Inventory Using FIFO

Beginning inventory, purchases, and sales data for portable DVD players are as follows:

June 1		Inventory	64 units @ $78
6		Sale	50 units
14		Purchase	29 units @ $81
19		Sale	22 units
25		Sale	9 units
30		Purchase	26 units @ $87

The business maintains a perpetual inventory system, costing by the first-in, first-out method.

Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3.

a. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column.

b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method?

st Purchases Total Cost 2349 2262 Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Quantity Sold Cost of Merchandise Sold Unit Cost Cost of Merchandise Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost 64 78 4,992 78 50 78 3900 1092 1092 2349 648 81 81 729 1053 13 1053 26 87 2262