Name Given Information Unit Cost Units Extended Cost 3,600.00 400 9.00 $ 300 Boginning Inventory 1/1/200x Purchases 2/6/200X 5/19/200x 8/12/200x 10/4/2007 Avaliable for Sale 500 8.40 7.56 7.00 6.75 $ 400 400 2,000 Units 1,300 Weighted Avg 2,520.00 3,780.00 2,800.00 2,700.00 15,400.00 Revenue 30,000.00 LIFO $ FIFO Total year sales (Revenue) Fill in the following boxes: Value of Ending Inventory Cost of Goods Sold Gross Profit 2 3/1 3/2 3/5 3/6 3/8 Make Journal entries for the following transactions for the Hat Store Hat Store buys hats on account for $4,400 from a distributor with terms FOB shipping point and payment 2/10 net 30 Paid freight on the purchase from 3/1 cash $100 Sold 20 hats to a baseball team for $600 on account 3/10 net 30. The cost of the hats was $200 Hat store returned 3 damaged hats, related to 3/1 purchase and received a $200 credit Paid the distributor for the purchase in #1 in full and took the discount. Remember to subtract the discount.. Hat store bought more hats for $5,500, cash. No freight cost Received payment from the customer for merchandise sold on 3/5. Customer took the discount. Hat store sold 50 hats for 1200 cash. Terms are FOB destination. The cost of the 50 hats was $500 The Hat store paid freight on the 3/9 sale $100 cash Customer from 3/9 sale returned 5 hats and we gave them cash back of $120. The cost on those hats was $50 3/8 3/9 3/9 3/10 3/11 DATE Account Debit Credit 1 Mar 2. Mar 5 Mar 6-Mar 6-Mar 8-Mar 8-Mar 9-Mar