Question: Question Content Area Beginning inventory, purchases, and sales data for tennis rackets are as follows: Date Line Item Description Units and Cost April 3 Inventory

Question Content Area

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

Date Line Item Description Units and Cost

April

3

Inventory

19

units @ $

12

11

Purchase

16

units @ $

14

14

Sale

24

units

21

Purchase

13

units @ $

21

25

Sale

15

units

Complete the inventory record assuming the business maintains a perpetual inventory system, and determine the cost of goods sold and ending inventory using FIFO.

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