method, presenting details of the computations Cost Retail Celebrity Tan Co. Inventory, August 1 Transactions during August Purchases net Sales $ 300.000 $575.000 2.021.900 3.170.000 3.250,000 Ranchworks Co Inventory, March 1 Transactions during March through November Purchases neti Sales Estimated gross profit rate s 30.000 9.500.000 15.800.000 Instructions 2. 2. Estimate the cost of the inventory of Ranchworks Co. on November 30 by the gross profit b. Assume that Ranchworks Co. took a physical inventory on November 30 and discovered that $369,750 of inventory was on hand. What was the estimated loss of inventory due to theft or damage during March through November? : Series B PR 6-18 FIFO perpetual inventory Obj. 2,3 The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: PUAN Date Transaction Apr. 3 Inventory 8 Purchase 11 Sale 30 Sale May 8 Purchase 10 19 Sale 28 Purchase Number of Units 25 75 40 30 60 50 20 80 Per Unit $1.200 1,240 2,000 2,000 1.260 2000 2,000 1.260 Total $ 30,000 93,000 80,000 60,000 75,600 100,000 40,000 100,800 Sale (Continued) Date 16 similar to the , using the first in, first-out 3. Determine the gross profit from sales for the period. 4. the ending inventory cost on June 30. 1. Record the inventory purchases, and cost of goods sold data in perpetual inventory 2. Determine the total sales and the total cost of goods sold for the period. Journalise the in the sales and cost of gods sold accounts. Assume that all sales were on 5. Based upon the preceding date, would you expect the ending Inventory using the one The beginning inventory for Dunne Co. and data on purchases and sales for a three-monsi 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period 342 Chapter o eventos Total 520.000 56.250 240 99.000 Instructions out method to be higher or lower? LIFO 2. Gross profit, $213,170 are shown in Problem 6-1B. Instructions SHOW ME NOW DICH TEMPLATE similar to the one illustrated in Exhibit 4, using the last-in, first-out method. period. 3. Determine the ending inventory cost on June 30, PR 6-3B Weighted average cost method with perpetual inventory 2. Gross profit, $214,396 are shown in Problem 6-1B. Instructions M2 Obi, 2.3 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory second similar to the one illustrated in Exhibit 5, using the weighted average cost method. 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. 3. Determine the ending inventory cost on June 30
