Question: OBJ.2, PR 7-1A FIFO perpetual inventory The beginning inventory at Funky Party Supplies and data on purchases and sales for three-month period ending March 31,

Party Supplies and data on purchases and sales for three-month period ending

OBJ.2, PR 7-1A FIFO perpetual inventory The beginning inventory at Funky Party Supplies and data on purchases and sales for three-month period ending March 31, 2016, are as follows: Number Per of Units Unit Date Transaction Total 2,500 $60.00 $150,000 7,500 68.00 510,000 3,750 120.00 450,000 1,250 120.00 150,000 Jan. 1 Inventory 10 Purchase 28 Sale 30 Sale

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