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9. Finished making all jackets she started except for one, which is still atfached to the sewing machine, half-finished; it estimated cot so far of
9. Finished making all jackets she started except for one, which is still atfached to the sewing machine, half-finished; it estimated cot so far of $30. 10. Began the year with no jackets in the partially completed stage. 11. Counted 40 pairs of jeans still waiting to be transformed at year-end; the cost of these is estimated at $120. 12. At the beginning of the year, had just 10 pairs of jeans sitting on the shelf untouched, with a combined cost of $30. Create T-accounts for RM Inventory, WIP Inventory, FG Inventory, and COGS. Enter any appropriate beginning balances record any amounts that would have been debited or credited to these accounts during the year. Lastly, determine ending balances for all four accounts. Some transactions that Lisa engaged in this year, in no particular order, are as follows. 1. Purchased a new sewing machine for $2,100, with an estimated life of 5 years, used exclusively for her business. 2. Purchased thread, buttons, and patches for $330-all of which were used up this year. 3. Purchased new jeans for $930 and collected donated jeans from friends. 4. Paid friend $1,660 to help cut and sew the jackets together. 5. Finished making many jackets and sold all but one of them, and its total cost is $70. 6. Started the year with several completed jackets waiting to be sold; the combined cost of these was $400. 7. Paid $370 to ship three batches of jackets across the country as part of the sales transaction. 8. Paid $300 to run a series of ads in online channels. 9. Finished making all jackets she started except for one. which is still attached to the sewing machine, half-finished; it has an estimated cost so far of $30. 10. Began the year with no jackets in the partially completed stage. 11. Counted 40 pairs of jeans still waiting to be transformed at year-end; the cost of these is estimated at $120. 12. At the beginning of the year, had just 10 pairs of jeans sittiing on the shelf untouched, with a combined cost of $30
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