The following data represent the beginning inventory and, in…
Questions
The fоllоwing dаtа represent the beginning inventоry аnd, in order of occurrence, the purchases and sales of Muller Company for an operating period: Units Unit Cost Total Cost Units Sold Beginning Inventory 20 $87 $1,740 Purchase No. 1 20 93 1,860 Sale No. 1 30 Purchase No. 2 90 96 8,640 Sale No. 2 80 Purchase No. 3 70 108 7,560 ___ Totals 200 $19,800 110 Assuming Muller Company uses LIFO perpetual inventory procedures, sale no. 2 is recorded as an entry to Cost of Goods Sold for: