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In: Accounting

Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 21...

Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 21 units @ $18.00 11 Purchase 17 units @ $14.00 14 Sale 14 units 21 Purchase 12 units @ $20.00 25 Sale 13 units Assuming the business maintains a perpetual inventory system, calculate the cost of goods sold and ending inventory using FIFO. Select the correct answer. cost of goods sold $856.00 ending inventory $394.00 cost of goods sold $462.00 ending inventory $856.00 cost of goods sold $462.00 ending inventory $394.00 cost of goods sold $394.00 ending inventory $462.00

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ekkarill92 answered 1 year ago
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