Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

how do I figure these out. I already asked and was given wrong answer saying the first one is 2100 and the second one is

how do I figure these out. I already asked and was given wrong answer saying the first one is 2100 and the second one is 256 and its telling me they are wrong

image text in transcribed

During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows: Jan. 6 Purchased goods for $1,100 from Green with terms 3/12, n/45. 6 Purchased goods from Munoz for $750 with terms 2.5/12, n/45. 14 Paid Green in full. 2 Paid Munoz in full. 28 Purchased goods for $250 from Reynolds with terms n/45. Feb. Required: Assume that Axe uses a perpetual inventory system, the company had no inventory on hand at the beginning of January, and no sales were made during January and February. Calculate the cost of inventory as of February 28 Cost of Inventory how do I figure this out During the months of January and February, Solitare Corporation sold goods to two customers. The sequence of events was as follows: Jan. 6 Sold goods for $140 to Wizard Inc. with terms 2/30, n/60. The goods cost Solitare $72. 8 Sold goods to Spyder Corp. for $86 with terms 3/10, n/30. The goods cost Solitare $62. 14 Collected cash for the amount due from Wizard Inc. Feb. 28 Collected cash for the amount due from Spyder Corp. Required: Compute the total revenue Solitare would report over the two months. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Total Revenue

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

How would we like to see ourselves?

Answered: 1 week ago