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Assume The Watch Shop began. June with an inventory of 20 smart watches that cost $60 each. The Watch Shop sells them for $100 each
Assume The Watch Shop began. June with an inventory of 20 smart watches that cost $60 each. The Watch Shop sells them for $100 each During June. The Watch Shop bought and sold inventory as follows (Click the icon to view the transactions.) The resulting perpetual inventory records under FIFO and moving weighted average costare provided (Click the icon to view the FIFO perpetual inventory record.) (Click the icon to view the moving weighted average cost perpetual inventory record.) Journalize all of The Watch Shops inventory transactions for June for the FIFO and moving-weighted average cost methods. All transactions are an account Start by preparing the journal entry for the first sale on June 3rd Sold 16 units for 5100 each (Record debits first, then credits. Exclude explanations from journal entries. DEBITICREDIT AMOUNTS Accounts Moving-Weighted Average FIFO Record the cost of goods sold from the sale on June 3rd Accounts DEBETICREDIT AMOUNTS Moving Weighted Average FIFO Choose from any list or enter any number in the input fields and then continue to the next
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