Question: I need help finding the ones i got wrong and the blank ones. The following units of a particular item were available for sale during
The following units of a particular item were available for sale during the calendar year Jan, 1 Inventory 4,200 units at $39 Apr. 19 Sale 2,300 units June 30 Purchase 4,700 units at $43 Sept. 2 Sale 4,800 units Nov. 15 Purchase 2,200 units at $47 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 first-in, first-out method. Present the illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventor Schedule of Cost of Goods Sold FIFO Method Cost of Goods Sold Purchases Unit Cost Inventory Unit Cost Date Quantity Total Cost Quantity Unit Cost Total Cost Quantity Total Cost 163,800 74,100 2,300 4,200 1,900 1,900 4,700 4,700 43 202,100 74,100 202,100 1,900 2,600 X 2,900 2,600 X 103,400 2,200 103,400 Jan, 1 Apr 19 June 30 Sept. 2 Nov. 15 Dec 31 2,200 Balances 47 39 43 89,700 74,100 124,700 288,500 39 V 39 39 43
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