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    taylor5135's Avatar
    taylor5135 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 29, 2013, 12:39 PM
    Perpetual Inventory using FIFO
    April 1 Inventory 120 units at $39
    6 Sale 90 units
    14 purchase 140 units at $40
    19 sale 110 units
    25 sale 45 units
    30 Purchase 160 units at $43
    I have to enter this into a spreadsheet and it grades it as I go. I really have been on this question for 2 hours and am stuck on one part I will attach a photo.

    Please help
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    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
    Senior Member
    		  
    #2

    Sep 30, 2013, 05:14 AM
    There is an error in recording April 19 sales. It should be:
    30 units @ 39
    80 units @ 40

    April 20 sales:
    25 units @40

    April 30 Balance
    5 units @ 40
    160 units @ 43
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