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\$12.00Beginning inventory, purchases, and sales data for cell phones for March are as follows:

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Q:
 Beginning inventory, purchases, and sales data for cell phones for March are as follows: Inventory Purchases Sales March 1 4,000 units at \$35 March 5 2,000 units at \$37 March 8 2,800 units March 20 1,800 units at \$39 March 14 2,400 units March 31 1,200 units Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of the merchandise sold for each sale and the inventory balance after each sale. Beginning inventory, purchases, and sales data for cell phones for March are as follows: Inventory Purchases Sales March 1 1,800 units at \$29 March 5 900 units at \$31 March 8 1,260 units March 20 810 units at \$33 March 14 1,080 units March 31 540 units Assuming that the perpetual inventory system is used, costing by the FIFO method, determine the cost of the merchandise sold for each sale and the inventory balance after each sale.

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\$12.00
Beginning inventory, purchases, and sales data for cell phones for March are as follows:
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• Posted on Jun. 20, 2012 at 10:59:09AM
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cellph.xls (20K)