The beginning inventory of floor mats at International Office Supplies and data on purchases and sales for a three-month period are shown in Alternate Problem 6-1B.
1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 6, using the last-in, first-out method.
2. Determine the total sales, the total cost of floor mats sold, and the gross profit from sales for the period.
3. Determine the ending inventory cost.