inventory practice

Option #1: Inventory Entries Practice Exercises Below is a record of the purchases and sales of inventory throughout the first four months: Cost/Price Per Unit Units $3.50 1/1/x7 Beginning Balance 100 1/31/x7 Purchase $4.00 125 2/15/x7 Purchase $4.50 250 2/25/x7 Sale $7.75 150 $5.00 3/10/x7 Purchase 300 3/31/x7 Purchase $5.50 75 4/10/x7 Sale $8.25 225 $6.00 4/15/x7 Purchase 100 4/30/x7 Sale $8.50 350 Requirements: How many units were available for sale throughout the year? What was the total value of all goods available for sale throughout the year? How many physical units were sold? How many physical units are in ending inventory? What is the total sales value for all three sales? Price Per Unit Total Units 2/25/x7 Sale 4/10/x7 Sale 4/30/x7 Sale Total Each assignment must include a title page and reference page. Review the grading rubric to understand how you will be graded on this assignment. Review Module 4 Part 3 Lecture for examples related to your Critical Thinking assignment for this week. Reach out to your instructor if you have questions about the assignment. Note: The download the template required for this assignment is located in the Module 4 folder. ACT300 Principles of Accounting I Module 4: Critical Thinking Template Option #1 Purchased Balance in inventory Sold Unit price Total Total Total Date Units Unit Cost Units Units Unit cost Beginning 1/31/17 2/15/17 2/25/17 3/10/17 4/10/17 4/15/17 4/30/17 What is the total sales value for all three sales? Total Price Per Unit Units 2/25/x7 Sale 4/10/x7 Sale 4/30/x7 Sale Total