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can someone help me? I would really appreciate it as im struggling with the perpetual system... 2. Calculate the dollar value of cost of goods
can someone help me? I would really appreciate it as im struggling with the perpetual system...
2. Calculate the dollar value of cost of goods sold and ending inventory using specific identification, assuming the sales were specifically identified as follows: Mar. 15: 203 units from beginning inventory 182 units from the February 10 purchase Sept. 10: 198 units from beginning inventory 31 units from the February 10 purchase 61 units from the August 21 purchase Ending Cost of Goods Inventory Sold Specific Identification3. Using information from your answers in Parts 1 and 2, journalize the credit purchase on February 10 and the credit sale on September 10 for each of: a. FIFO View transaction list Journal entry worksheet 3 Record the purchase of inventory on credit. Note: Enter debits before credits. Date General Journal Debit Credit February 10 Record entry Clear entry View general journalb. Moving weighted average (Do not round intermediate calculations. Round "Average cost per unit" to 2 decimal places. Round the final answers to nearest whole dollar.) View transaction list Journal entry worksheet 2 3 > Record the purchase of inventory on credit. Note: Enter debits before credits. Date General Journal Debit Credit February 10 Record entry Clear entry View general journalc. Specific identification VIEW transaction list Journal entry worksheet Record the purchase of inventory on credit. Note: Enter debits before credits. February 10 The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2023. Beginning 577 units @ $84/unit Feb. 10 305 units @ $81/unit Aug. 21 185 units @ $94/unit Stilton Company has two credit sales during the period. The units have a selling price of $144 per unit. Sales Mar . 15 385 units Sept. 10 290 units Stilton Company uses a perpetual inventory system. Required: 1. Calculate the dollar value of cost of goods sold and ending inventory using: (Do not round intermediate calculations. Round "Average cost per unit" to 2 decimal places. Round the final answers to 2 decimal places.) Ending Inventory Cost of Goods Sold a FIFO b Moving weighted averageStep by Step Solution
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