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Question
Complete the following subsidiary inventory ledger using the perpetual FIFO method of inventory flow.
| Inventory Valuation—Perpetual FIFO | |||||||
Date | Purchased Units | Unit | Units | Unit | Inventory Units Balance | Unit | Inventory Dollar Balance |
| July 2 | 600 | $12 | |||||
| Bal. | |||||||
| July 5 | 200 | $13 | |||||
| Bal. | |||||||
| July 7 | 300 | ||||||
| Bal. | |||||||
| July 10 | 325 | $14 | |||||
| Bal. | |||||||
| July 12 | 300 150 | ||||||
| Bal. | |||||||
| July 18 | 250 | $13 | |||||
| Bal. | |||||||
| July 22 | 50 205 | ||||||
| Bal. | |||||||
| July 25 | 120 180 | ||||||
| Bal. | |||||||
| July 28 | 330 | $15 | |||||
| Bal. | |||||||
| July 31 | 70 5 | ||||||
| Ending Balance | FIFO INVENTORY VALUATION: | ||||||
| | |||||||
Answer
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