Question
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 @ $450 |
|
| June 28 | Purchases | 100 units @ $458 |
|
| June 30 | Sales |
| 300 units @ $1,400 per unit |
Instructions
- Compute cost of goods available for sale and the number of units available for sale.
- Compute the number of units in ending inventory.
- Under the periodic inventory system, record journal entries for purchases on account.
- Under the periodic inventory system, record journal entries for sales invoiced.
Here is the table for parts 3 and 4:
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Introduction To Health Care Management
Authors: Sharon B. Buchbinder, Nancy H. Shanks
3rd Edition
128408101X, 9781284081015
