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Can I please have the answers to the last two questions? Thank you X fic B D E F G H J K L Body
Can I please have the answers to the last two questions?
Thank you
X fic B D E F G H J K L Body Builder World began January with an inventory of 80 crates of vitamins that cost a total of $2,400. During the month, Body Builder World purchased and sold merchandise on account as follows: Purchase 1 130 crates @ $ 35 190 crates @ $ 60 Sale 1..... Purchase 2 120 crates @ $ 40 Sale 2..... 130 crates @ $ 70 Problem 1 Requirement 1. Which inventory method most closely mimics the physical flow of Body Builder World's inventory? 2. Prepare a perpetual inventory record, at LIFO cost, for this merchandise. 3. Journalize all transactions using LIFO. Requirement 1 The inventory method that most closely mimics the physical flow is LIFO Requirement 2 1 2 3 4. 5 6 + 1 D95 X A B C K L D E Cost of goods sold(20*35+110*40) Inventory H 5,100 88 89 5,100 90 91 Now prepare the entry for the payment of accounts payable. 92 93 Journal Entry Accounts 94 Date Debit Credit 95 96 97 Finally, prepare the journal entry for the operating expense. 98 99 100 Journal Entry Accounts 101 Date Debit Credit 102 103 104 105 106 107 1 2 3 4 5 6 Enter 1 o Type here to searchStep by Step Solution
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