Chap EX6-7 - Date Jan 1 Jan 10 Mar 14 Mar 15 July 30 Oct 5 Oct 26 Activities Beginning Inventory Sales Purchase Sales Purchase Sales Purchase Totals

# Chap EX6-7 - Date Jan 1 Jan 10 Mar 14 Mar 15 July 30 Oct 5...

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DateActivitiesUnits Acquired at CostUnits Sold at RetailJan. 1Beginning Inventory200 Units @ \$10 = \$2,000Jan. 10Sales150 units @ \$40 = \$6,000Mar. 14Purchase350 units @ \$15 = \$5,250Mar. 15Sales300 units @ \$40 = \$12,000July 30Purchase450 units @ \$20 = \$9,000Oct. 5SalesOct. 26PurchaseTotals1,100 units\$18,750 \$35,200 Perpetual FIFOGoods purchasedCost of Goods SoldInventory BalanceDate# of unitsUnit CostUnit Cost1-Jan200\$10.00\$2,000.0010-Jan150\$10.00\$1,500.0050\$10.00\$500.0014-Mar350\$15.0050\$10.00\$500.00350\$15.00\$5,250.00\$5,750.0015-Mar50\$10.00\$500.00250\$15.00\$3,750.00100\$15.00\$1,500.00\$4,250.00\$1,500.0030-Jul450\$20.00100\$15.00\$1,500.00450\$20.00\$9,000.00\$10,500.005-Oct\$10.00\$0.00100\$15.00\$1,500.00330\$20.00\$6,600.00120\$20.00\$2,400.00\$8,100.00\$2,400.0026-Oct100\$25.00120\$20.00\$2,400.00100\$25.00\$2,500.00Totals\$13,850.00\$4,900.00Perpetual LIFOGoods purchasedCost of Goods SoldInventory BalanceDate# of unitsUnit CostUnit Cost1-Jan200\$10.00\$2,000.0010-Jan150\$10.00