Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ASAP Please AutoSave 0 HW1 - Saved to this RC Scarch A Lopez, Miguel LM ES File Home Insert Draw Design Layout References Mailings Review
ASAP Please
AutoSave 0 HW1 - Saved to this RC Scarch A Lopez, Miguel LM ES File Home Insert Draw Design Layout References Mailings Review View Help Share Comments X cut [Copy Format Painter Clipboard Calibri (Dody: 11 A A Aa BIUX, XA ADA ! Ay, bccba bc BaBbcer 8bcco , 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em... Find Replace Select Peste Dictate Reuse Files Font Paragraph Styles 15 Editing Voice Fouse Files The Cotton Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March Cotton Company uses the perpetual inventory system. UPLOAD YOUR ANSWER AS A PDF FILE. ALSO, IF YOU WANT PARTIAL CREDIT. UPLOAD YOUR INVENTORY SCHEDULE Date Explanation Units Unit Cost OR Unit Selling Price 3/1 Beginning inventory 3/3 Purchase 3/4 Sale 3/10 Purchase 3/16 Sale 3/19 Sel Sale 3:25 Sale 3/3D Purchase 200 70 70 300 60 100 50 60 560 $75 $110 $90 $120 $120 $120 $95 Assuming the FIFO assumption, answer the following: 1) Calculate the total dollar amount charged to cost of goods sold for the month of March, 2) Calculate the dollar amount assigned to the inventory on hand on March 31. 3) Calculate the dollar amount charged to cost of goods sold for the sale on 3/16. 4) Prepare the journal entry to record the sale of goods on 3/19. Page 1 of 1 163 words Focus 28 Le 9096 w 5:22 PM Type here to search O Sunday 6/27/2021Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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