3.Beginning inventory purchases and sales data for tennis rackets are as foll

3.Beginning inventory purchases and sales data for tennis
rackets are as follows:

Apr 3

Inventory

12 units

@

$45

11

Purchase

13 units

@

$47

14

Sale

18 units

21

Purchase

9 units

@

$60

25

Sale

10 units

Complete the inventory cost card assuming the business maintains a perpetual inventory system and calculates the cost of merchandise sold and ending inventory
using FIFO.

Purchases

Cost of
Merchandise Sold

Inventory

Date

Qty

Unit Cost

Total Cost

Qty

Unit Cost

Total Cost

Qty

Unit Cost

Total Cost

Balances