BASIC FINANCIAL CCOUNTING REVIEW Debic Gandhi Paid Food investoy Beverent $57.950 520 1500 12200 3,000 150.000 12000 Equipment Accounts payable Noins payable Gram Disk capital Sales revenue W e expense Salaries exp U s expense Miscellaneous expense Accounts Totals $16.00 105.000 100.000 24.900 3,400 1900 $246.100 HIT 14 Unadjusted Trial Balance May 31, 2003 Account Dabar 57.990 620 31,450 3.200 1.175 150.000 12.000 16200 Cash Credit card receivables Prepaid inden Food inventory vereinventory Building Accumulated depreciation Building Equipment Accumulated depreciation Equipment Accounts payable Payroll payable Notes payable Capital Gran Disk Sales revenue Cost of sales Wages expense Salaries expense Utilities expense Miscellaneous expense Insurance expenst Depreciation expose Accounts Totals 105.000 100,000 24.900 11.25 292 ISO EXHIBIT 1.10 Adjusted Trial Balance, May 31, 2003 P2.4 The following information is taken from a perpetual inventory record. Perpetual Inventory Control Record Description: M&B Supreme Date Purchase Received Issued Sales Units Unit Cost $10.00 June 1 Balance forward $10.50 $11.00 $ 9.50 For each of the following inventory valuation methods, calculate the value of ending inventory and the cost of sales as of June 30. Use formats of Exhibits 2.4(a), 2.4(b), and 2.4(c). a. First-in, first-out method b. Last-in, first-out method c. Weighted average method