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Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1...

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Accounting

Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 68 units @ $96 10 Sale 51 units 15 Purchase 87 units @ $101 20 Sale 50 units 24 Sale 13 units 30 Purchase 35 units @ $105 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under

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