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Johnson Company uses a perpetual inventory system. The January 2018 inventory information is as follows. Assume cash purchases and sales. Prepare a perpetual inventory record
Johnson Company uses a perpetual inventory system. The January 2018 inventory information is as follows. Assume cash purchases and sales.
Date Jan 1 Jan 3 Jan 6 Jan 15 Jan 22 DATA Description Inventory on hand Purchase Sale Purchase Sale Units Per Unit 2,000 $ 8 6,000 $ 10 5,500 $ 20 10,000 $ 12 9,000 $ 20 unului SARA Disses Quantity Unit cost Total Cost Quantity Date ant Tec Quantity Unit Tocal lan lan 22 600 th Data Puss GR Un cost Total Cost Torsdal Unico TORN Cost an tan fans 151 WARE Bursas Une cost Total Casa ad Uncat Date Quantity Unito To Lant 151 22 Prepare a perpetual inventory record using, FIFO, LIFO, and weighted-average inventory costing methods, and determine cost of goods sold and ending merchandise inventory. Use cell references from Data Table for quantities and unit cost. Use Excel formulas for total costs and total quantities. Format weighted average unit cost and total cost to display two decimal places.
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