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Can someone help me solve this please? Required information [The following information applies to the questions displayed beiow.] Now that operations for outdoor clinics and
Can someone help me solve this please?
Required information [The following information applies to the questions displayed beiow.] Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches avallable for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022 . All watches are sold for $494 each. Jul. 17 Purchased 44 vatehes for $6,336 (\$144 per vatch) on acoount. Jul. 31 fold 34 watehen for $16,796 cash. Mug. 12 Purchabed 34 vatohes for 95,236 (5154 per watch) eash. Aug. 22 sold 24 watehes for 511,856 on acdount. Sep. 19 Paid for vatehed purchaeed on July 17. Eep. 27 Recelve eash of 118,600 for watches wold on account on sugust 22. Det. 27 Purchased 74 vatohes for $12,136 (\$164 por wateh) eash. Nov. 20 sold 64 watehes for 541,496 canh. boe, 4 Purchased 108 watehen for 511,792 (5174 per watch) on aceount. Dec, if gold 34 watchen for $16,796 on aceoust. Required: 1-a. Calculate sales revenue, cost of goods sold; and ending inventory as of December 31, 2022, assuming Suzie uses FiFO to account for inventory. Required: 1-a. Calculate sales revenue, cost of goods sold, and ending inventory as of December 31, 2022, assuming Suzie uses FFO to account for inventory. 1-b. Prepere the gross profit section of a partial income statement for transections related to MU watches Step by Step Solution
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