Download A Alternative formats Page 1 > of 4 Given Information Units Unit Cost 9.00 $ Extended Cost 3,600.00 400 Beginning Inventory 1/1/200X Purchases 2/6/2007 5/19/200X 8/12/200X 10/4/200X Avaliable for Sale 8.40 7.56 7.00 6.75 200 500 600 400 2.100 Units 1,400 FIFO 1,680.00 3,780.00 4,200.00 2,700.00 15,960.00 Revenue $ 40,000.00 Weighted Avg LIFO Total year sales (Revenue) Fill in the following boxes: Value of Ending Inventory Cost of Goods Sold Gross Profit 2 a 3/1 Make Journal entries for the following transactions for the Hat Store Hat Store buys hats on account for $4,600 from a distributor with terms FOB shipping point and payment 2/10 net 30 Paid freight on the purchase from 3/1 cash $150 Sold 20 hats to a baseball team for $1000 on account 3/10 net 30. The cost of the hats was $500 Hat store returned 10 damaged hats, related to 3/1 purchase and received a $200 credit b 3/2 3/5 G d 376 2 Make Journal entries for the following transactions for the Hat Store a 3/1 b 3/2 C 3/5 d 3/6 e 3/8 Hat Store buys hats on account for $4,600 from a distributor with terms FOB shipping point and payment 2/10 net 30 Paid freight on the purchase from 3/1 cash $150 Sold 20 hats to a baseball team for $1000 on account 3/10 net 30. The cost of the hats was $500 Hat store returned 10 damaged hats, related to 3/1 purchase and received a $200 credit Paid the distributor for the purchase in #1 in full and took the discount. Remember to subtract the discount.. Hat store bought more hats for $5,500, cash. No freight cost Received payment from the customer for merchandise sold on 3/5. Customer took the discount. Hat store sold 50 hats for $2000 cash. Terms are FOB destination. The cost of the 50 hats was $800 The Hat store paid freight on the 3/9 sale $100 ash Customer from 3/9 sale returned 5 hats and we gave them cash back of $200 The cost on those hats was $80 f g h 3/8 3/9 3/9 3/10 3/11 DATE Account Debit Credit 1-Mar 2-Mar 5.Mar Page of 4 6-Mar B-Mar 8-Mar 9-Mar