Question: Lawn Supply, which uses the FIFO method, began with 87 units of inventory that cost $52 each. During January, Foster completed these inventory transactions: Required

Lawn Supply, which uses the FIFO method, began with 87 units of inventory that cost $52 each. During January, Foster completed these inventory transactions: Required 1. Prepare a perpetual inventory record for the fertilizer. 2. Determine 's cost of goods sold for January 3. Compute gross margin for. Requirement 1. Prepare a perpetual inventory record for the lawn supply merchandise. Use the FIFO method. (For the inventory on hand columns, list the oldest layer of inventory first. For the cost of goods sold columns, list the first out layout first.

units unit cost unit sale price

Jan 2 purchase 66 62

8 Sale 70 146

17 Purchase 102 72

22 Sale 134 172

2. What is your subject? ACCOUNTING

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