May I also have the steps included on how to solve these problems please? Thank you.
mylab.pearson.com/Student/PlayerHomework.aspx?homeworkld=622664340&questionid=5&flushed=false&cld=6910994¢erwin=yes ACG2001 712208 Hennery Dorelus 04/12/22 10:09 PM = Homework: Ch 6 Homework A-Graded Question 3, SF6-5 (similar to) 7 HW Score: 31.15%, 30.21 of 97 points Points: 2.86 of 10 O Save Part 3 of 7 Washington Cycles started July with 5 bicycles that cost $48 each. On July 16, Washington purchased 30 bicycles at $55 each. On July 31, Washington sold 16 bicycles for $100 each. Requirements 1. Prepare Washington Cycle's perpetual inventory record assuming the company uses the LIFO inventory costing method. 2. Journalize the July 16 purchase of merchandise inventory on account and the July 31 sale of merchandise inventory on account. C. Requirement 1. Prepare Washington Cycle's perpetual inventory record assuming the company uses the LIFO inventory costing method. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (For cost of goods sold, enter the first layer out under LIFO costing first. For inventory on hand, enter the oldest inventory layer first. Abbreviation used: QTY = Quantity: Tot. = Total) Washington Cycles Purchases Cost of Goods Sold Date QTY Unit Cost Tot. Cost QTY Unit Cost Tot. Cost Inventory on Hand QTY Unit Cost Tot. Cost 5 $ 48 $ 240 Jul. 1 Jul. 16 30 $ 55 $ 1,650 5$ 48 $ 240 30 $ 55 $ 1,650 Jul. 31 Help me solve this Etext pages Get more help Media Clear all Check answer ACG2001 712208 Hennery Dorelus 04/12/22 10:10 PM = Homework: Ch 6 Homework A-Graded Question 4, SF6-6 (similar to) Part 2 of 7 > HW Score: 31.15%, 30.21 of 97 points Points: 0.83 of 10 O Save New Tech Cycles started May with 5 bicycles that cost $48 each. On May 16, New Tech purchased 30 bicycles at $55 each. On May 31, New Tech sold 24 bicycles for $98 each. Requirements 1. Prepare New Tech Cycle's perpetual inventory record assuming the company uses the weighted-average inventory costing method. 2. Journalize the May 16 purchase of merchandise inventory on account and the May 31 sale of merchandise inventory on account. Requirement 1. Prepare New Tech Cycle's perpetual inventory record assuming the company uses the weighted average inventory costing method. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Abbreviation used: QTY = Quantity: Tot. = Total) New Tech Cycles Purchases Cost of Goods Sold QTY Unit Cost Tot. Cost . Date QTY Unit Cost Tot. Cost Inventory on Hand QTY Unit Cost Tot. Cost 5$ 48 $ 240 May 1 May 16 30 $ 55 $ 1,650 Help me solve this Etext pages Get more help Media Clear all Final check HP Orbit
