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Current Attempt in Progress Carla Vista Company uses a perpetual inventory system. The company began 2024 with 800 lamps in inventory at a cost of
Current Attempt in Progress Carla Vista Company uses a perpetual inventory system. The company began 2024 with 800 lamps in inventory at a cost of $11 per unit. During 2024, Carla Vista had the following purchases and sales of lamps: February 15 Purchased 1.600 units @$17 per unit April 24 Sold 2,000 units @$29 per unit June 6 Purchased 2.800 units @$22 per unit October 18 Sold 1,600 units @ $32 per unit December 4 Purchased 1.120 units @ $25 per unit All purchases and sales are on account. (a) Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average cost per unit to 2 decimal places, eg. 5.27 and final answers to O decimal places, eg. 5,275.) Weighted Average Cost of goods sold $ Ending inventory $ (b) Prepare journal entries to record the June 6 purchase and the October 18 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 O for the amounts. Round the average cost per unit to 2 decimal places, eg. 5.27 and final answers to 0 decimal places, eg. 5,275. List all debit entries before credit entries.) Date Account Titles June 6 Debit Credit Oct. 18 Oct. 18 (To record sales on account.) (To record cost of goods sold.) eTextbook and Media
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