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Current Attempt in Progress Swifty Corporation opened a new store on January 1, 2021. During 2021, the first year of operations, the following purchases and
Current Attempt in Progress Swifty Corporation opened a new store on January 1, 2021. During 2021, the first year of operations, the following purchases and sales of inventory were made: Units Date Jan. 5 June 11 Oct. 18 Dec. 20 Purchases Cost per unit 11 $1.000 11 1,240 16 1.340 18 1.490 Date July 4 Dec. 29 Sales Units 13 34 Price per unit $2,100 2,100 Calculate the cost of goods available for sale and the number of units of ending Inventory Cost of goods available for sale Number of units of ending inventory units Assume Swifty uses weighted average periodic Calculate the cost of ending inventory.cost of the goods sold, and gross profit. (Round the weighted average cost per unit to two decimal places, eg. 52.75 and final answers to decimal places, eg. 5,275.) Ending inventory $ Cost of goods sold Gross profit eTextbook and Media List of Accounts Assume Swifty uses weighted average perpetual Calculate the cost of ending inventory.cost of the goods sold, and gross pront. (Round the weighted average cost per unit to two decimal places. e.g. 52.75 and final answers to decimal places, eg. 5,275.) Ending inventory Cost of goods sold S I Gross profit S Prepare journal entries to record the December 20 purchase and the December 29 sate using ti) weighted average periodic and (2) weighted average perpetual. Assume both the sale and purchase were for cash. (Round final answers to decimal places, es. 5,275. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically Indented when the amount is entered. Do not indent manually) (1) Weighted Average periodic Debit Credit Date Account Titles and Explanation Dec. 20 (To record cash purchase.) Dec. 29 (To record cash sale.) (2) Weighted Average perpetual Debit Date Account Titles and Explanation Dec. 20 Credit Credit (To record cash purchase.) Dec 29
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