PR62A LIFO perpetual inventory I kinda know how to do it but

OBJ. 2, 3 PR 6-2A LIFO perpetual inventory The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period are shown in Problem 6-1A. Instructions 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the last-in, first-out method 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. J. Dermine the cading inventory cost as of March š1. 2016.

Solution

From 1st January 2016 to 31st March 2016 ( Stock statement on LIFO basis) Purchase Cost of merchandised sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Total Qty Total Cost Jan-01                 2,500 $   60 $      150,000                 2,500 $       150,000 10-Jan        7,500 $   68 $     510,000                 2,500 $   60 $      150,000                 7,500 $   68 $      510,000              10,000 $       660,000 28-Jan       3,750 $ 120 $      450,000                 2,500 $   60 $      150,000                 3,750 $   68 $      255,000                 6,250 $       405,000 30-Jan       1,250 $ 120 $      150,000                 2,500 $   60 $      150,000                 2,500 $   68 $      170,000                 5,000 $       320,000 05-Feb           500 $ 120 $        60,000                 2,500 $   60 $      150,000                 2,000 $   68 $      136,000                 4,500 $       286,000 10-Feb     18,000 $   70 $ 1,260,000                 2,500 $   60 $      150,000                 2,000 $   68 $      136,000              18,000 $   70 $   1,260,000              22,500 $   1,546,000 16-Feb       9,000 $ 125 $ 1,125,000                 2,500 $   60 $      150,000                 2,000 $   68 $      136,000                 9,000 $   70 $      630,000              13,500 $       916,000 28-Feb       8,500 $ 125 $ 1,062,500                 2,500 $   60 $      150,000                 2,000 $   68 $      136,000                    500 $   70 $         35,000                 5,000 $       321,000 05-Mar     15,000 $   72 $ 1,074,000                 2,500 $   60 $      150,000                 2,000 $   68 $      136,000                    500 $   70 $         35,000              15,000 $   72 $   1,074,000              20,000 $   1,395,000 14-Mar     10,000 $ 125 $ 1,250,000                 2,500 $   60 $      150,000                 2,000 $   68 $      136,000                    500 $   70 $         35,000                 5,000 $   72 $      358,000              10,000 $       679,000 25-Mar        2,500 $   72 $     180,000                 2,500 $   60 $      150,000                 2,000 $   68 $      136,000                    500 $   70 $         35,000                 5,000 $   72 $      358,000                 2,500 $   72 $      180,000              12,500 $       859,000 30-Mar       8,750 $ 125 $ 1,093,750                 2,500 $   60 $      150,000                 1,250 $   68 $         85,000                 3,750 $       235,000