Chapter 6 Inventories 512000 560000 1. Record the inventory, purchases, and cost of merchandise sold data in a in Exhibit 4, using the first-in, first-out method. tory record similar to the one illustrated merchandise sold for the period. Jour. Determine the total sales and the total coE of nalize the entries in the sales and cost of merchandise sold accounts. Assume that all sales were on account. ermine the gross profit from sales for the period 4. Determine the ending inventory cost as of March 31, 2016. 5. Based upon the preceding data, would you expect the inventory using the last-in, first-out method to be higher PR 6-2A LIFO perpetual inventory The beginning inventory at Funky Party supplies and data on purchases and sales for a three-month period are shown in Problem 6 IA. 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual record similar to the one illustrated in Exhilhi 5 using the lastin, first-out Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. 2. Determine the ending inventory cost as of March 31, 2016. PR 6.3A Weighted average cost method with perpetual The beginning inventory for Funky Party supplies and data on purchases and sales for a three-month period are shown in Problem Record the inventory, purchases, and cost of merchandise sold data in a perpetual ory record similar to the one illustrated in Exhibit 6, using the weighted average 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. 3 Determine the ending inventory cost as of March 31, 2016 Chapter 6 Inventories 512000 560000 1. Record the inventory, purchases, and cost of merchandise sold data in a in Exhibit 4, using the first-in, first-out method. tory record similar to the one illustrated merchandise sold for the period. Jour. Determine the total sales and the total coE of nalize the entries in the sales and cost of merchandise sold accounts. Assume that all sales were on account. ermine the gross profit from sales for the period 4. Determine the ending inventory cost as of March 31, 2016. 5. Based upon the preceding data, would you expect the inventory using the last-in, first-out method to be higher PR 6-2A LIFO perpetual inventory The beginning inventory at Funky Party supplies and data on purchases and sales for a three-month period are shown in Problem 6 IA. 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual record similar to the one illustrated in Exhilhi 5 using the lastin, first-out Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. 2. Determine the ending inventory cost as of March 31, 2016. PR 6.3A Weighted average cost method with perpetual The beginning inventory for Funky Party supplies and data on purchases and sales for a three-month period are shown in Problem Record the inventory, purchases, and cost of merchandise sold data in a perpetual ory record similar to the one illustrated in Exhibit 6, using the weighted average 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. 3 Determine the ending inventory cost as of March 31, 2016
