J,J & R Inc. is a snowboarding company owned and operated by two Brothers Jason and Justin Ramos. Their most popular snowboard seller is the XP-T150 and is used for training in the Olympics and other world sports. The company uses a perpetual inventory system and information relating to the purchases and sales of XP-T150 for the month of November 2020, is given below.

Date Description Units Unit Costs Unit Sales Price Nov. 1 Beginning Inventory 30 $295 Nov. 5 Purchases 25 $300 Nov. 12 Sales 42 $460 Nov. 19 Purchases 40 $305 Nov. 22 Sales 50 $470 Nov. 25 Purchases 30 $310 Nov. 26 Purchases 43 $312 Nov. 30 Sales 48 $500

Instructions: Use the Inventory Cost Sheet provided to calculate the Cost of Goods Sold and Ending Inventory Using EITHER the Average Cost Method OR the FIFO Method. BUT NOT BOTH.

Seattle Coffee Limited's bank statement for the month of November 2015 showed a balance per bank of $7,000. The company's general ledger Cash account showed a balance of $5,659 at November 30. Other information is as follows: 1. Cash receipts for November 30 recorded on the company's books were $5,200, but this amount does not appear on the bank statement. 2. The bank statement shows a debit memorandum for $40 for cheque printing charges. 3. Cheque #119 payable in the amount of $248 to Holt Corporation was recorded in the general journal and cleared the bank for $248. A review of the accounts payable records shows a $36 credit balance in Holts account and that the total payment should have been for $284. 4. The total amount of cheques outstanding at November 30 was $5,800. 5. Cheque #138 was correctly written and paid by the bank for $409. The cash payment journal reflects an entry for Cheque #138 as a debit to Accounts Payable and a credit to Cash for $490. 6. The bank returned an NSF cheque from a customer for $560. 7. The bank statement included a deposit for $1,260, which represents the electronic collection of customer accounts which have not yet been recorded on the companys books. Instructions (a) Prepare a bank reconciliation for Seattle Coffee Limited at November 30, 2015. Do your Bank Reconciliation Here!!

Balance Per Bank Statement Balance Per Cash Book