Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac

تمرين 23

Perpetual inventory using FIFO
Assume that the business in Exercise 7-5 maintains a perpetual inventory system, costing by the first-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.