Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
- 46 To do Oh 230 + 10D 1 (s) If the Company uses the weighted average inventory method, what would be the journal entry
- 46 To do Oh 230 + 10D 1 (s) If the Company uses the weighted average inventory method, what would be the journal entry the company would make for the sale on May 87 *Note, you will need to combine your learning from Chapter 5 and Chapter 6. Use the Chart of Accounts from above and make sure to use the proper journal entry form we learned in Module 1 (including date, description, etc.). You can round to 3 decimal places when necessary the sale M Purchas Bee 9513 1 300 ID 23000 200 43 5 100 ISD ISODD X 45 6 6 = Da 3D 100045 26350 8 225 45 - lojas 75 x 45 = 8335 -45 6930 +doza - 152 15b 200 12: (4 Points) If the Company uses the Weighted Average inventory method, what would be the ending balance of inventory after the sale on May 8? The ending inventory >> 13375 13 Krazy kids has been quite successful. They sell all of their inventory in April, and then start buying again in May. We receive cash for all the sales. Here is what we find for the month of May: Date Description Units / Ss May 15 Purchase 300 units @ $10 May 5 Sale 100 units @ $150 May 6 Purchase 50 units @ $12 May 80 Sale 225 units @ $160 7: (4 Points) If the Company uses the FIFO inventory method, what would be the journal entry the
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started