Merchandise Inventory as of September 30 consists of the following lamps: X Data Table Item Desk Lamp Table Lamp Floor Lamp Quantity Unit Cost 2,000 $ 11 $ 2,500 $ 21 Total Cost 22,000 5 2,500 55,200 2,400 S 129,700 Total Print Done HA CICR e ICUIT IU View levier LlallUISE VIII.) During the fourth quarter of 2018, DLC completed the following transactions: i More Info Oct. 1 Purchased lamps on account from Appalachian Lights, terms n/30, FOB destination: 6,000 desk lamps at $12 each 7,000 table lamps at $15 each 3,500 floor lamps at $27 each 12 Sold lamps on account to Strabo Home Furnishings, terms 2/10, n/30: 3,000 table lamps at $40 each 15 Sold lamps on account to Kennesaw Office Supply, terms 1/10, n/30 500 desk lamps at $23 each 20 Received a check from Strabo Home Furnishings for full amount owed on Oct. 12 sale. 23 Received a check from Kennesaw Office Supply for full amount owed on Oct. 15 sale. 28 Sold lamps on account to Channel Home Stores, terms 3/10, n/30: 4,000 table lamps at $40 each 2,000 floor lamps at $63 each 30 Paid amount due to Appalachian Lights from Oct. 1 purchase. 31 Paid salaries, $43,000 (70% selling, 30% administrative) 18 Sold lamps on account to Capital Discount Stores, terms 3/10,n/30: 1,700 table lamps at $40 each 2,500 floor lamps at $63 each 28 Received a check from Capital Discount Stores for full amount owed on Nov. 18 sale. 30 Paid salaries, $43,000 (70% selling, 30% administrative) 30 Paid utilities, $2,480 (75% selling 25% administrative). Dec. 5 Paid amount due to Appalachian Lights from Nov. 5 purchase. 15 Received a check from Jackson Office Supply for full amount owed on Nov. 15 sale. 15 Darbys withdrew $25,000 from the business. 27 Sold lamps on account to Strabo Home Furnishings, terms 2/10, n/30: 5,600 desk lamps at $23 each 4,300 table lamps at $40 each 31 Paid salaries, $43,000 (70% selling, 30% administrative) 31 Paid utilities, $3,500 (75% selling 25% administrative). Print Print Done Homework: Unit 2 Project (Instructor may require this to be Save Score: 2.36 of 50 pts 1 of 1 (1 complete) HW Score: 4.72%, 2.36 of 50 pts Question Help % Comp6-1 (similar to) The Darbys Lamp Company (DLC), owned by Jennifer Darbys, is a wholesale company that purchases lamps from Merchandise Inventory as of September 30 consists of the following lamps: the manufacturer and resells them to retail stores. (Click the icon to view the Merchandise Inventory.) (Click the icon to view the additional information.) During the fourth quarter of 2018, DLC completed the following transactions: The trial balance for DLC as of September 30, 2018 follows: i (Click the icon to view the transactions). E: (Click the icon to view the trial balance.) Read the requirements. Requirement 2 and Requirement 5c. Open inventory records for the three inventory items and enter opening balances as of September 30, 2018. Complete the inventory records using the following transactions: Oct. 1, 12, 15, 28; Nov. 1, 5, 15, 18, and Dec. 27. For the year ended December 31, 2018, a physical inventory account resulted in the following counts: desk lamps, 1,986, table lamps, 5,996, and floor lamps, 8,400. Update the inventory records. Begin with the inventory record for desk lamps. 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 merchandise inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) Desk lamps: Purchases Unit Cost Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Quantity Date Sep. 30 Oct. 1 Inventory on Hand Unit Total Quantity Cost Cost 2000 52500 2000 52500 6000 12 72000 6000 | 12 72000 500 6000 1500 52500 97500 65001 Nov. 1 1500 2600 Dec. 27 Totals Merchandise Inventory as of September 30 consists of the following lamps: X Data Table Item Desk Lamp Table Lamp Floor Lamp Quantity Unit Cost 2,000 $ 11 $ 2,500 $ 21 Total Cost 22,000 5 2,500 55,200 2,400 S 129,700 Total Print Done HA CICR e ICUIT IU View levier LlallUISE VIII.) During the fourth quarter of 2018, DLC completed the following transactions: i More Info Oct. 1 Purchased lamps on account from Appalachian Lights, terms n/30, FOB destination: 6,000 desk lamps at $12 each 7,000 table lamps at $15 each 3,500 floor lamps at $27 each 12 Sold lamps on account to Strabo Home Furnishings, terms 2/10, n/30: 3,000 table lamps at $40 each 15 Sold lamps on account to Kennesaw Office Supply, terms 1/10, n/30 500 desk lamps at $23 each 20 Received a check from Strabo Home Furnishings for full amount owed on Oct. 12 sale. 23 Received a check from Kennesaw Office Supply for full amount owed on Oct. 15 sale. 28 Sold lamps on account to Channel Home Stores, terms 3/10, n/30: 4,000 table lamps at $40 each 2,000 floor lamps at $63 each 30 Paid amount due to Appalachian Lights from Oct. 1 purchase. 31 Paid salaries, $43,000 (70% selling, 30% administrative) 18 Sold lamps on account to Capital Discount Stores, terms 3/10,n/30: 1,700 table lamps at $40 each 2,500 floor lamps at $63 each 28 Received a check from Capital Discount Stores for full amount owed on Nov. 18 sale. 30 Paid salaries, $43,000 (70% selling, 30% administrative) 30 Paid utilities, $2,480 (75% selling 25% administrative). Dec. 5 Paid amount due to Appalachian Lights from Nov. 5 purchase. 15 Received a check from Jackson Office Supply for full amount owed on Nov. 15 sale. 15 Darbys withdrew $25,000 from the business. 27 Sold lamps on account to Strabo Home Furnishings, terms 2/10, n/30: 5,600 desk lamps at $23 each 4,300 table lamps at $40 each 31 Paid salaries, $43,000 (70% selling, 30% administrative) 31 Paid utilities, $3,500 (75% selling 25% administrative). Print Print Done Homework: Unit 2 Project (Instructor may require this to be Save Score: 2.36 of 50 pts 1 of 1 (1 complete) HW Score: 4.72%, 2.36 of 50 pts Question Help % Comp6-1 (similar to) The Darbys Lamp Company (DLC), owned by Jennifer Darbys, is a wholesale company that purchases lamps from Merchandise Inventory as of September 30 consists of the following lamps: the manufacturer and resells them to retail stores. (Click the icon to view the Merchandise Inventory.) (Click the icon to view the additional information.) During the fourth quarter of 2018, DLC completed the following transactions: The trial balance for DLC as of September 30, 2018 follows: i (Click the icon to view the transactions). E: (Click the icon to view the trial balance.) Read the requirements. Requirement 2 and Requirement 5c. Open inventory records for the three inventory items and enter opening balances as of September 30, 2018. Complete the inventory records using the following transactions: Oct. 1, 12, 15, 28; Nov. 1, 5, 15, 18, and Dec. 27. For the year ended December 31, 2018, a physical inventory account resulted in the following counts: desk lamps, 1,986, table lamps, 5,996, and floor lamps, 8,400. Update the inventory records. Begin with the inventory record for desk lamps. 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 merchandise inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) Desk lamps: Purchases Unit Cost Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Quantity Date Sep. 30 Oct. 1 Inventory on Hand Unit Total Quantity Cost Cost 2000 52500 2000 52500 6000 12 72000 6000 | 12 72000 500 6000 1500 52500 97500 65001 Nov. 1 1500 2600 Dec. 27 Totals