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lyryx Spreadsheet Print Preferences Help Assignment 4 (Question 2) Name: - Aarushi Date: 2021-11-20 Question 2 [14 points) The Courtland Corp. company has the following purchases and sales during the year ended December 31, 2014. Inventory and Purchases Beginning: 400 units @ $97/unit January 25: 400 units @ $104/unit May 14: 150 units @ $99/unit Sales April 9: 200 units June 19: 300 units The units have a selling price of $115.00 per a unit. a) Given that Courtland Corp. employs a perpetual inventory system, calculate the cost of goods available for sale and the number of units available for sale, as well as the units remaining in ending inventory. Cost of goods available for sale: Units available for sale: Units remaining in ending inventory: b) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit earned by Courtland Corp. using the weighted average system. Calculate weighted average cost per unit of merchandise inventory to the nearest cent. Weighted Average Cost of Goods Sold a) Given that Courtland Corp. employs a perpetual inventory system, calculate the cost of goods available for sale and the number of units available for sale, as well as the units remaining in ending inventory. Cost of goods available for sale: Units available for sale: Units remaining in ending inventory: b) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit earned by Courtland Corp. using the weighted average system. Calculate weighted average cost per unit of merchandise inventory to the nearest cent. Weighted Average Cost of Goods Sold Ending Inventory Gross Profit c) Prepare journal entries to record the following (assuming all sales and purchases are for cash): (a) The purchase on May 14, (b) The sale on June 19. Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions. Dates must be entered in the format dd/mmm (ie. 15/Jan). General Journal Account/Explanation Page GJS F Debit Credit Date + - +-1