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o Save 1 af merchandse = Homework: HW-7 = : 7 Question 1, T16-2 (similar to) Part 1 of 4 4 Requirements 5. Heavenly Books has the following transactions in Augus. Ielaled to mediandise inventory Cick the icon to view the transactions. a. Determine the cost of goods sold and ending merchandise inventory by Read the requirements preparing a perpetual Inwentory record using the specific identification method Assume the following custing information for the books vold during the month: August 3 4 booke coeling 314 wach August 15 4 booke coating $14 each and 5 books cooling S20 each August 28 2 books coating $20 each and 4 books costing 829 each a. Determine the cost of goods sold and ending marchandise inventory by preparing a perpetual Inventory record using the specific identification mattod. Assume the to 6. Datermine the cost of goods sold ard arding marchandise Inventory August 3: 4 books costing $14 oech preparing a perpeluainerilory record using the FIFO inventory coeling Algus 15 4 books costing $14 Arch and 5 books costing S21 each method. Augus: 28 2 hooks coating $20 each and 4 books casting S29 cach c. Determine the cost of gards sold and ending merchandise inventory by preparing e perpetual inventory record using the LIFO inventory cooling Start by entering the beginning inventary balances. Enter the transactions in chronological orter, calculating new inventory on hand balances atter each transaction. Ond method. invertory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) d. Determine the cos. of goods sold and ending merchandise inverilery by preparing a perpetual Inventory record using the waighted average wentory Purchase Coat of Goods Sold Inventory on Hand costing methou. Round weighiu average unit cost to the nearest cent and total cost to the nearest dolar. Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost 12 $ 14 S 160 3 14 S 112 Print Done 12 8s 20 3 180 14S 112 8 $ 85 20 S 160 15 X 2 $ 14 More info 53 20 $ 100 35 20 S 80 2.1 20 SS 29 $ 145 3 $ 14 Aug. 1 Beginning merchandise inventory, 12 books S14 each 20 S 60 Sold 4 books $18 each 2 3 29 Purchased 8 DOOKS 520 each 2013 Aug. 12 40 14 Aug. 15 Sold books $18 och 29 . $ 20 S 20 Aug. 20 29 S Purchased 5 hos S29 cach 29 Aug. 28 Sold & books $28 wach Totals 13 S 301!! 19 Aug 1 Aug. 3 Print Done Etext pages Calculator Ask my instructor Clear all Final check