meduca.wiley.com/assessment player/chemianchi 2016-2021469-505-35ec5d3c6/question/ hapter 6 Assignment Question 5 of 6 -12 View Policies Current Attempt in Progress Ivanhoe Company had a beginning inventory balance on July 1 of 350 units at a cost of $3.10 each. During the month, the following inventory transactions took place! Sales Price per Dale July 10 13 27 Purchases Cost per Units unit 1370 $3.30 200 370 570 390 Date July 2 11 28 Units 300 1050 370 unit $6.10 6.10 6.00 Calculate the cost of good watable for sale and the number of units of ending inventory Cost of goods available for sale Number of units of ending inventory units E R Assignment Question 5 of 6 -12 Calculate the cost of goods available for sale and the number of units of ending inventory Cost of goods available for sale $ Number of units of ending inventory units e Textbook and Media List of Accounts Assume Ivanhoe uses FIFO periodic Calculate the cost of ending inventory.cost of the goods sold, and gross profit E 6 E R K Question 5 of 6 -12 Prepare journal entries to record the July 10 purchase and the July 11 sale using (1) FIFO periodic and (2) FIFO perpetual Assume both the sale and purchase were for cash Of no entry is required, select "No Entry for the accounts and enter for the amounts Credit accounts are automatically indersted when the amount is entered. Do not Indent manually (1) FIFO periodic Debit Credit Date Account Titles and Explanation July 10 (To record cash purchase July 11 to record cash sale) 12) FIFO perpetual median hp 8 E R F G . J K BN