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Assignment: Merchandising Operations Choi Company has the following inventory information. Date Activity Units Acquired at Cost Units Sold at Retail Beginning Inventory 150 units
Assignment: Merchandising Operations Choi Company has the following inventory information. Date Activity Units Acquired at Cost Units Sold at Retail Beginning Inventory 150 units @ $300 June 7 Purchase 350 units @ $350 June 9 Sales 180 units @$1,200 per unit June 17 Purchases 80 units @$45 ons June 28 Purchases 100 units @$458 June 30 Sales 300 units @$1,400 per unit Instructions 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory. 3. Under the periodic inventory system, record journal entries for purchases on account. 4. Under the periodic inventory system, record journal entries for sales invoiced. Here is the table for parts 3 and 4: Week 7 Assignment Template A 1 2 Date Description 3. 4 5 6 B C D PR Debit Credit E
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