Question: Question Content Area Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 22 units @ $16 11 Purchase 13

  1. Question Content Area

    Beginning inventory, purchases, and sales data for tennis rackets are as follows:

    April 3 Inventory 22 units @ $16
    11 Purchase 13 units @ $14
    14 Sale 26 units
    21 Purchase 10 units @ $18
    25 Sale 13 units

    Complete the subsidiary inventory ledger assuming the business maintains a perpetual inventory system and computes the cost of merchandise sold and ending inventory using FIFO.

    Purchases Cost of Merchandise Sold Inventory
    Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost
    April 3 fill in the blank fill in the blank fill in the blank
    11 fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank
    fill in the blank fill in the blank fill in the blank
    14 fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank
    fill in the blank fill in the blank fill in the blank
    21 fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank
    fill in the blank fill in the blank fill in the blank
    25 fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank
    fill in the blank fill in the blank fill in the blank
    Total cost of merchandise sold fill in the blank Ending inventory value fill in the blank

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