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I split up this question so it would be more clear. if you can please follow rhe same setup as exhibited on required #1. thank
I split up this question so it would be more clear. if you can please follow rhe same setup as exhibited on required #1. thank you!
UFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Number Date Transaction of Units Per Unit Total Apr 3 Inventory 36 $450 $16,200 8Purchase 72 540 38,880 11 Sale 48 1,500 72,000 30 Sale 30 1,500 45,000 May Purchase 60 36,000 10 Sale 36 1,500 54,000 19 Sale 18 1,500 27,000 28 Purchase 60 660 19,600 June 5 Sale 36 1,575 56,700 16 Sale 48 1,575 75,600 21 Purchase 108 720 77,760 28 Sale 54 85,050 600 1.575 Required 1. Record the wentary purchase and cost of goods in perpetual Dry records to the one illustrating the first method. Under tropes are in inventory at two different costs, enter the units win the HIGHER E cost first in the cast of Goods Sold unit Costco and LOWER unit costs in the inventory Unit Costco Dunne Co Schedule of cost of Good Sold uro Method For the Three Month Ented June 30 Purchases Cost of Goods Sold Inventary Quantity Unit Cest Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost 26 450 16.200 36 450 16.200 72 540 35.650 72 540 38.800 Date A 11 Apr 30 30 540 16,200 May 600 36.000 60 600 35.000 Mev 19 HW 9 Book B Show Me How Printem May 10 10 II May 19 May 28 60 660 39,600 5 - MI I June 16 June 21 June 28 42 720 June 30 Balances 160,920 47,520 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. Total sales Total cost of goods sold Gross profit from sales 3. Determine the ending inventory cost as of June 30 Step by Step Solution
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