W $2$

Question $2,$ EF$6-17($similar to$)$

HW Score: $27\mathrm{.}98\%,2\mathrm{.}52$ of $9$ points

Part $1$ of $14$

Points: $0$ of $1$

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Golf Unlimited carries an inventory of putters and other golf clubs. The sales price of each putter is $$119.$ Company records indicate the following for a particular line of Golf Unlimited's putters

$($Click the icon to view the records.$)$

Read the requirements.

Requirement $1.$ Prepare Golf Unlimited's perpetual inventory record for the putters assuming Golf Unlimited uses the LIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month. inventory purchased, sold, and on hand at the end of the period. $($Enter the oldest inventory layers first.$)$

$\backslash$table$[[$Date$,$Purchases,Cost of Goods Sold,Inventory on Hand$],[$Quantity$,\backslash$table$[[$Unit$],[$Cost$]],\backslash$table$[[$Total$],[$Cost$]],$Quantity,$\backslash$table$[[$Unit$],[$Cost$]],\backslash$table$[[$Total$],[$Cost$]],$Quantity,$\backslash$table$[[$Unit$],[$Cost$]],\backslash$table$[[$Total$],[$Cost$]]],[$Jun$.1,,,,,,,,4,]]$

Data table

$\backslash$table$[[$Date$,$Item,Quantity L$,$Unit Cost$],[$Jun$.1,$Balance,$17$$$,68],[$Jun$.6,$Sale,$7,],[$Jun$.8,$Purchase,$20,74],[$Jun$.17,$Sale,$20,],[$Jun$.30,$Sale,$3,]]$

Requirements

Prepare Golf Unlimited's perpetual inventory record for the putters assuming Golf Unlimited uses the LIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month.

Journalize Golf Unlimited's inventory transactions using the LIFO inventory costing method. $($Assume purchases and sales are made on account.$)$

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