Ch07E3 - $15 Mar. 15 Sales 125 units @ 15 Oct. 5 Sales 600...

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Exercise 7-3 Trout Inc. Using a perpetual inventory system, determine: Jan. 1 Beginning inventory 120 units @ $6 = $720 Mar. 7 Purchases 250 units @ 6 = 1,400 FIFO July 26 Purchases 500 units @ 5 = 2,500 Purchases Sales Balance Oct. 3 Purchases 450 units @ 5 = 2,070 Date Units Cost Total Units Cost Total Units Cost Total Totals 1,320 units $6,690 Sales information: Jan. 10 Sales 70 units @
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Unformatted text preview: $15 Mar. 15 Sales 125 units @ 15 Oct. 5 Sales 600 units @ 15 Total sales 795 Totals $- $- $- LIFO Purchases Sales Balance Date Units Cost Total Units Cost Total Units Cost Total Totals $- $- $- Weighted Average Purchases Sales Balance Date Units Cost Total Units Cost Total Units Cost Total Totals $- $- $-...
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This note was uploaded on 08/22/2009 for the course ACCT 1101 taught by Professor Davescott during the Fall '05 term at Niagara College.

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Ch07E3 - $15 Mar. 15 Sales 125 units @ 15 Oct. 5 Sales 600...

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