Question: requirement 1 prepare perpetual inventory records for december for streak...
Requirement 1. Prepare perpetual inventory records for December for Streak Free Cleaning using the FIFO inventory costing method. (Note: You must calculate the cost of goods sold on the 11th, 28th, and 31st.
(adjusting entry a).) Round per unit costs to two decimal places.
Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. Complete the first half of the schedule in this step, and the remaining half in the next step