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Crank
3 years ago
15

Determine the cost of merchandise sold for the transaction on September 25 using the perpetual inventory system and the FIFO met

hod. Date Item Units Cost Total Beginning inventory 5 $5 $25 September 4 Purchase 8 6 48 September 8 Sale 6 September 20 Purchase 15 7 105 September 25 Sale 12 a.$105 b.$77 c.$84 d.$73
Business
1 answer:
GuDViN [60]3 years ago
7 0

Answer:

b.$77

Explanation:

beginning inventory 5 units

purchase september 4th 8 untis

sale for 6 units:

<u>inventory after first sale: (available at second sale)</u>

beginning used.

purchase september 4th   7  untis at $6

September 25th Sale of 12 units

<u>inventory used for second sale:</u>

September 4th   7  untis at $6

September 15th  5 units at $7

total COGS for the sale: $77

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