* Data Table Item Quantity Unit Cost Total Cost 2,000 $ 9 $ Desk Lamp Table Lamp 4,200 $ 18,000 67,200 67,200 Floor Lamp 2,400 $ $ 152,400 Total Print Done 0 More Info Oct. 1 Purchased lamps on account from Village Lights, terms n/30, FOB destination: 4,000 desk lamps at $7 each 6,000 table lamps at $18 each 5,000 floor lamps at $29 each 12 Sold lamps on account to Opus Home Furnishings, terms 3/10,n/30 5,000 table lamps at $41 each 15 Sold lamps on account to Tiffon Office Supply, terms 2/10,n/30 800 desk lamps at $19 each 20 Received a check from Opus Home Furnishings for full amount owed on Oct. 12 sale. 23 Received a check from Tifton Office Supply for full amount owed on Oct 15 sale. 28 Sold lamps on account to Turnpike Home Stores, terms 1/10,n/30 1.000 table lamps at $41 each 1,900 floor lamps at $60 each 30 Paid amount due to Village Lights from Oct. 1 purchase. 31 Paid salaries, $36,000 (60% selling, 40% administrative) 31 Paid utilities, $2,100 (75% seling. 25% administrative). Nov. 1 Sold lamps on account to Tifton Office Supply, terms 2/10,n/30 2.200 desk lamps at $19 each 5 Purchased lamps on account from Village Lights, terms n/30, FOB destination: 4,000 desk lamps at $10 each 8.500 table lamps at $21 each 10,000 floor lamps at $32 each 5 Received a check from Turnpike Home Stores for full amount owed on Oct. 28 sale. 8 Received a check from Tifton Office Supply for full amount owed on Nov. 1 sale 10 Purchased and paid for supplies: $350 for the office: $650 for the warehouse 15 Sold lamps on account to Thompson Office Supply, n/30 1,900 desk lamps at $19 each 18 Sold lamps on account to Metro Discount Stores, terms 3/10, 1/30 2,500 table lamps at $41 each 2,200 floor lamps at $60 each 28 Received a check from Metro Discount Stores for full amount owed on Nov. 18 sale. 30 Paid salaries, $36,000 (60% selling, 40% administrative) 30 Paid utilities, $2.260 (75% selling. 25% administrative). Dec, 5 Paid amount due to Village Lights from Nov. 5 purchase. 15 Received a check from Thompson Office Supply for full amount owed on Nov. 15 sale 15 Daubs withdrew $45,000 from the business. 27 Sold lamps on account to Opus Home Furnishings, terms 1/10, 30 2.600 desk lamps at $19 each 3,500 table lamps at $41 each 31 Paid salaries, $36,000 (60% selling, 40% administrative) 31 Paid utilities, $2,900 (75% seling. 25% administrative). Print Done Next, prepare complete the inventory record for floor lamps. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. Remember, for the year ended December 31, 2018, a physical inventory account resulted in the following counts: desk lamps, 2.495table lamps, 6,691; and floor lamps, 13,300. (Enter the oldest inventory layers first.) Floor Lamps: Purchases Inventory on Hand Unit Cost of Goods Sold Unit Total Quantity Cost Cost Unit Cost Total Total Cost Quantity Quantity Cost Cost Date Sep 30 Oct. 1 Nov. 5 Totals
