1. Prepare Mountain Cycles perpetual inventory record assuming the company uses the weighted-average inventory costing method. 2....

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1. Prepare Mountain Cycle’s perpetual inventory record assuming the company uses the weighted-average inventory costing method.

2. Journalize the August 16 purchase of merchandise inventory on account and the August 31 sale of merchandise inventory on account.

Mountain Cycles started August with 12 bicycles that cost $ 42 each. On August 16, Mountain bought 40 bicycles at $ 68 each. On August 31, Mountain sold 36 bicycles for $ 84.

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Horngrens Financial and Managerial Accounting

ISBN: 978-0133255584

4th Edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Question Posted: Jan 16, 2015 09:40 AM

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1. Prepare Mountain Cycles perpetual inventory record assuming the company uses the weighted-average inventory costing method. 2....

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Requirement 1 Calculations a Weighted average cost per unit Cost of goods available for sale N...View the full answer

Horngrens Financial and Managerial Accounting

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