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H3Ko H3Ko
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7 years ago
Open Space Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500.  During the month, Open Space purchased and sold merchandise on account as follows:

June 7   Purchase   25 sofas @ $750 each
      14   Sale   30 sofas @ 1,150 each
     18   Purchase   50 sofas @ $775 each
     27   Sale   35 sofas @ $1,200 each

Prepare a perpetual inventory record, using the LIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit.
graphic(6.2.42-44_lo.png)
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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TanksTanks
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7 years ago Edited: 5 years ago, bio_man
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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#3
6 years ago
i dont see the answer
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#4
Educator
6 years ago
Quote from: kdosslove (6 years ago)
Quote

Me neither.. I'll update the thread for you this  afternoon
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#5
Educator
6 years ago
Try it now Slight Smile I've updated the thread
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#6
4 years ago
tysm
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#7
4 years ago
thank you
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#8
4 years ago
Thank you
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#9
4 years ago
Thank you
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#10
4 years ago
Thank you
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#11
3 years ago
J
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#12
3 years ago
Thanks
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#13
3 years ago
thanks
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