Question
Exercise 3 out of 4: Cost of Goods Sold (25 points) IDO is a fishery company. In the table below are indicated the sales and
Exercise 3 out of 4: Cost of Goods Sold (25 points)
IDO is a fishery company. In the table below are indicated the sales and purchases done on the specific dates.
| Dates | EXPLANATION | Unit | Unit Cost | Selling price |
| 02.01.14 | Beginning Inventory | 300 | 11 | |
| 04.02.14 | Purchase | 100 | 15 | |
| 22.05.14 | Sale | 250 | 20 | |
| 27.05.14 | Purchase | 400 | 16 | |
| 14.10.14 | Sale | 500 | 24 | |
| 05.12.14 | Purchase | 200 | 19 |
Prepare the Weighted Average Cost table and the corresponding journal entries for the sale (revenues and COGS) by using Perpetual Inventory System
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The BRC Global Standard For Food Safety A Guide To A Successful Audit
Authors: Ron Kill
2nd Edition
0470670657, 978-0470670651
