Lily Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Price May 7 50 $11 July 28 30 15 On June 1, Lily sold 20 units, and on August 27, 40 more units. Collapse question part (a)
Prepare the perpetual inventory schedule for the above transactions using FIFO.
(Round answers to 0 decimal places, e. g. 1,250.) Product E2-D2 Date Purchases Cost of Goods Sold Balance
May 7 550
June 1 220
July 28 450
Aug. 27 600

The most common form of non profit organisation is 501 (c)(3).

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan