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Hello,can you please he[p me Riverbed Corporation opened a new store on January 1, 2021. During 2021, the first year of operations, the following purchases
Hello,can you please he[p me
Riverbed 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: Date Purchases Units Cost per unit 10 $1,000 Date Sales Units 15 Jan. 5 July 4 Dec. 29 Price per unit $2,000 2,000 June 11 10 1.180 33 15 1,320 Oct. 18 Dec 20 18 1.470 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 Riverbed 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, e.g. 52.75 and final answers to decimal places, eg. 5,275.) Ending inventory $ Cost of goods sold $ Gross profit $ Assume Riverbed uses weighted average perpetual. 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 $ Prepare journal entries to record the July 10 purchase and the July 11 sale using (1) FIFO periodic and (2) FIFO perpetual. Assume both the sale and purchase were for cash. (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) FIFO periodic Debit Credit Date Account Titles and Explanation July 10 (To record cash purchase.) July 11 (To record cash sale) (2) FIFO perpetual Debit Credit Date Account Titles and Explanation July (To record cash purchase.) July 11 (To record cash sales.) July 11 (To record cost of goods sold.)Step by Step Solution
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