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ook Show Me How Calculator Perpetual Inventory Using UFO Beginning inventory, purchases, and sales data...

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ook Show Me How Calculator Perpetual Inventory Using UFO Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows: Inventory Purchases Sales Dec. 1 3,300 units at $28 Dec. 10 1 .550 units at $30 Dec. 12 2,310 units Dec. 20 1 ,455 units at $32 Dec. 14 1.980 units Dec 31 990 units a. Assuming that the perpetual inventory system is used, costing by the UFO method, determine the cost of goods sold for each sale and the inventory balance after each presenting the data in the form ilustrated in Bibit 4. Under UFO, units are in inventory at two different costs enter the units with the HIGHER cost first in the cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost Schedule of Cost of Goods Sold LIFO Method Prepaid Cell Phone Cast of Cost of antity Purchase purchases Quantity Goods sold Goods Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Dec. 20 Dec 12 44 w G H

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