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Blossom Company uses a perpetual inventory system. The company began 2 0 2 4 with 1 , 1 0 0 lamps in inventory at a
Blossom Company uses a perpetual inventory system. The company began with lamps in inventory at a cost of $ per unit. During Blossom had the following purchases and sales of lamps: tableFebruary Purchased, units @ $ per unitApril Sold, units @ $ per unitJune Purchased, units @ $ per unitOctober Sold, units @ $ per unitDecember Purchased, units @ $ per unit All purchases and sales are on account. Prepare journal entries to record the June purchase and the October sale. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. Round the average cost per unit to decimal places, eg and final answers to decimal places, eg List all debit entries before credit entries. Date Account Titles Debit Credit June Oct. To record sales on account. Oct. To record cost of goods sold.
Blossom Company uses a perpetual inventory system. The company began with lamps in inventory at a cost of $ per unit. During Blossom had the following purchases and sales of lamps:
tableFebruary Purchased, units @ $ per unitApril Sold, units @ $ per unitJune Purchased, units @ $ per unitOctober Sold, units @ $ per unitDecember Purchased, units @ $ per unit
All purchases and sales are on account.
Prepare journal entries to record the June purchase and the October sale. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. Round the average cost per unit to decimal places, eg and final answers to decimal places, eg List all debit entries before credit entries.
Date Account Titles
Debit
Credit
June
Oct.
To record sales on account.
Oct.
To record cost of goods sold.
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