Answered step by step
Verified Expert Solution
Question
1 Approved Answer
i need help doing this please asap. counting I The beginning inventory of drift boats at Heritage Float Co, and data on purchases and sales
i need help doing this please asap.
counting I The beginning inventory of drift boats at Heritage Float Co, and data on purchases and sales for THL period are as follows: Per Number Total Unit of Units Date Transaction $ 48.400 $2.200 22 Inventory Augunt 40.500 2.250 1P Purchase 57.400- 4800 12 11 Sale 4,800 2,300 52.800- 11 22 Sales 36,800 sa.000 25,000 47,000 14 Purchase September 3 5,000 5,000 10 1C Sale Sale 21 2,350 20 30 Purchase Instructions fIF 1. Record the inventory, purchases, and cost of merchandise sold data in a perpet- ual inventory record THt SHEET PRavrbeD, first-out method 2. Determine the total sales and the total cost of drift boats sold for the period using the first-in, 3. Determine the gross profit from sales of drift boats for the period 4. Determine the ending inventory cost. The beginning inventory of drift boats and data on purchases and sales for a period are shown TH Peealin Adout, Instructions AIFO Record the inventory, purchases, and cost of merchandise sold data in a perpet- ual inventory record similar THL SWELT PAOvibeD first-out method. Detemine the total sales, the total cost of drift boats sold, and the gross profit from sales for the period. 7. Detemine the ending inventory cost. using the last-inStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started