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III. Prepare a Schedule of Cost of Goods Sold (5) The following selected events occurred at Tianshu Co. during the first half of the year.
III. Prepare a Schedule of Cost of Goods Sold (5) The following selected events occurred at Tianshu Co. during the first half of the year. Date Jan. 1 Jan. 25 Feb. 10 Mar. 20 Apr. 5 Apr. 15 May 1 June 1 June 18 June 30 Event Beginning inventory Purchased goods, FOB destination Returned goods to supplier Sold goods Purchased goods, FOB shipping point Paid freight on goods purchased Sold goods Sold goods Customer returned goods to Tianshu Physical count of ending inventory Amount $15,000 20,000 3,000 19,000 35,000 2,000 14,000 23,000 2,000 20,000 Required: Prepare a Schedule of Cost of Goods Sold for Snead Co., for the six-months ende d June 30, assuming the periodic inventory method is used. Use the form provide d below. S $ Beginning inventory Purchases Purchase returns Transportation-in Cost of goods available for sale Ending inventory Cost of goods sold $ IV, Journalize for the following transactions: (1x16=16') 1. The owners of Pollak Co. began their business by investing $10,000 of cash
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