NEED HELP WITH MY ACCOUNTING ASSIGNMENT . THANKS IN ADVANCE

COURSE IS AC114

Solution Date Account title and explanation Apr-05 Inventory Accounts payable Debit Credit 1200 1200 Apr-07 Inventory Cash 40 40 Apr-09 Accounts payable Inventory 200 Apr-10 Accounts receivable Sales revenue 920 200 920 Cost of goods sold Inventory 552 Apr-12 Inventory Accounts payable 675 Apr-14 Accounts payable Inventory Cash 1000 Apr-17 Accounts payable Inventory 75 552 675 20 980 75 Apr-20 Accounts receivable Sales revenue 610 610 Cost of goods sold Inventory 400 400 Apr-21 Accounts payable Inventory Cash 600 6 594 Apr-27 Sales return and allowances Accounts receivable 20 20 Apr-30 Cash Accounts receivable Cash Date Explanation Apr-01 Balance 900 900 Debit Credit Balance 1900 7 14 21 30 Date Apr-10 20 27 30 40 980 594 900 Accounts receivable Explanation Accounts payable Explanation Owner's capital Date Explanation Apr-01 Balance Date Apr-10 20 Credit Balance 920 1530 20 1510 900 610 Credit Balance 2600 3800 3840 200 3640 552 3088 3763 20 3743 75 3668 400 3268 6 3262 920 610 Inventory Date Explanation Apr-01 5 7 9 10 12 14 17 20 21 Date Apr-05 9 12 14 17 21 Debit Sales revenue Explanation Sales return and allowance Date Explanation Apr-27 Debit 1200 40 675 Debit 1860 880 286 1186 Credit Balance 1200 1200 200 1000 675 1675 1000 675 75 600 600 0 Debit Credit Debit Credit Balance 4500 920 610 Debit Credit 20 Balance 920 1530 Balance 20 Date Apr-10 20 Cost of goods sold Explanation Debit Credit 552 400 Yolanda's Discorama Trial balance Debit Cash Accounts receivable Inventory Owner's capital Sales revenue Sales return and allowances Cost of goods sold Total Credit 1186 610 3262 4500 1530 20 952 6030 6030 Balance 552 952 Answer Purchases Units Cost per unTotal 1 120 5 600 2 460 6 2760 3 100 7 700 680 4060 Average unit cost 5.97 Cost of ending inventory = 2090 Answer: FIFO Date Purchases COGS Balance May-07 1780 1780 Jun-01 930 850 Jul-28 1391 2241 Aug-27 1591 650 LIFO Date Purchases COGS Balance May-07 1780 1780 Jun-01 930 850 Jul-28 1391 2241 Aug-27 1741 500 Average Date Purchases COGS Balance May-07 1780 1780 Jun-01 930 850 Jul-28 1391 2241 Aug-27 1657 584 Answer: Net sales Cost of goods available Gross Profit rate 320000 260000 36% Cost of goods sold = 204800 Ending inventory = 55200 Units Minolta Canon Vivitar Kodak LCM 3 9 13 16 The ending inventory Total 152 140 100 117 456 1260 1300 1872 4888 Units Camera DVD iPods Ending inventory Cost 111 153 142 NRV 67 84 84 LCM 75 58 71 Total 67 58 71 7437 8874 10082 26393 Answer Moving average cost per unit Jan-01 14.000 Jan-05 15.755 Jan-08 15.755 Jan-10 15.755 Jan-15 16.675 Jan-16 16.613 Jan-20 16.613 Jan-25 17.314 LIFO Cost of goods sold Ending inventory Gross Profit FIFO 3347 1799 2446 Moving average 2947 3086 2199 2060 2846 2707 Working 1 Beg 5 Pur 8 Sale 10 Sales return 15 Purchase 16 Purchase re 20 Sale 25 Purchase LIFO 1 Beg 5 Pur 8 Sale 10 Sales return 15 Purchase 16 Purchase re 20 Sale 25 Purchase 100 141 112 10 55 5 89 19 Total cost Total Total units Unit cost 1400 1400 100 14 2397 3797 241 15.755 1764.5809 2032.4191 129 15.755 157.55187 2189.971 139 15.755 19 1045 3234.971 194 16.675 19 95 3139.971 189 16.614 1478.6107 1661.3603 100 16.614 21 399 2060.3603 119 17.314 14 17 COGS 100 141 112 10 55 5 89 19 1400 2397 950 399 5146 Ending 14 17 112 17 1904 50 39 19 17 950 663 3517 19 19 21 100 141 29 39 50 100 19 194 189 100 119 14 17 17 17 19 14 21 1400 399 16.675 16.613 3234.95 3139.95 1661.35 17.314 2060.3492 Moving average Jul-01 122 Jul-06 122 Jul-11 132.89 Jul-14 132.89 Jul-21 142.30 Jul-27 142.30 1 6 11 14 21 27 175 245 280 700 FIFO Moving avLIFO Ending inv 36015 34864 33495 Highest ending inventory FIFO 122 136 147 70 8540 105.78 315 33320 140 14808.89 41160 420 55968.89 133.26 105 70 70 105 245 175 122 136 147 8540 9520 15435 33495 175 455 245 70 315 140 420 122 8540 132.89 41860 132.89 18604.44 142.30 59764.44 Solution Date Account title and explanation Apr-05 Inventory Accounts payable Debit Credit 1200 1200 Apr-07 Inventory Cash 40 40 Apr-09 Accounts payable Inventory 200 Apr-10 Accounts receivable Sales revenue 920 200 920 Cost of goods sold Inventory 552 Apr-12 Inventory Accounts payable 675 Apr-14 Accounts payable Inventory Cash 1000 Apr-17 Accounts payable Inventory 75 552 675 20 980 75 Apr-20 Accounts receivable Sales revenue 610 610 Cost of goods sold Inventory 400 400 Apr-21 Accounts payable Inventory Cash 600 6 594 Apr-27 Sales return and allowances Accounts receivable 20 20 Apr-30 Cash Accounts receivable Cash Date Explanation Apr-01 Balance 900 900 Debit Credit Balance 1900 7 14 21 30 Date Apr-10 20 27 30 40 980 594 900 Accounts receivable Explanation Accounts payable Explanation Owner's capital Date Explanation Apr-01 Balance Date Apr-10 20 Credit Balance 920 1530 20 1510 900 610 Credit Balance 2600 3800 3840 200 3640 552 3088 3763 20 3743 75 3668 400 3268 6 3262 920 610 Inventory Date Explanation Apr-01 5 7 9 10 12 14 17 20 21 Date Apr-05 9 12 14 17 21 Debit Sales revenue Explanation Sales return and allowance Date Explanation Apr-27 Debit 1200 40 675 Debit 1860 880 286 1186 Credit Balance 1200 1200 200 1000 675 1675 1000 675 75 600 600 0 Debit Credit Debit Credit Balance 4500 920 610 Debit Credit 20 Balance 920 1530 Balance 20 Date Apr-10 20 Cost of goods sold Explanation Debit Credit 552 400 Yolanda's Discorama Trial balance Debit Cash Accounts receivable Inventory Owner's capital Sales revenue Sales return and allowances Cost of goods sold Total Credit 1186 610 3262 4500 1530 20 952 6030 6030 Balance 552 952 Answer Purchases Units Cost per unTotal 1 120 5 600 2 460 6 2760 3 100 7 700 680 4060 Average unit cost 5.97 Cost of ending inventory = 2090 Answer: FIFO Date Purchases COGS Balance May-07 1780 1780 Jun-01 930 850 Jul-28 1391 2241 Aug-27 1591 650 LIFO Date Purchases COGS Balance May-07 1780 1780 Jun-01 930 850 Jul-28 1391 2241 Aug-27 1741 500 Average Date Purchases COGS Balance May-07 1780 1780 Jun-01 930 850 Jul-28 1391 2241 Aug-27 1657 584 Answer: Net sales Cost of goods available Gross Profit rate 320000 260000 36% Cost of goods sold = 204800 Ending inventory = 55200 Units Minolta Canon Vivitar Kodak LCM 3 9 13 16 The ending inventory Total 152 140 100 117 456 1260 1300 1872 4888 Units Camera DVD iPods Ending inventory Cost 111 153 142 NRV 67 84 84 LCM 75 58 71 Total 67 58 71 7437 8874 10082 26393 Answer Moving average cost per unit Jan-01 14.000 Jan-05 15.755 Jan-08 15.755 Jan-10 15.755 Jan-15 16.675 Jan-16 16.613 Jan-20 16.613 Jan-25 17.314 LIFO Cost of goods sold Ending inventory Gross Profit FIFO 3347 1799 2446 Moving average 2947 3086 2199 2060 2846 2707 Working 1 Beg 5 Pur 8 Sale 10 Sales return 15 Purchase 16 Purchase re 20 Sale 25 Purchase LIFO 1 Beg 5 Pur 8 Sale 10 Sales return 15 Purchase 16 Purchase re 20 Sale 25 Purchase 100 141 112 10 55 5 89 19 Total cost Total Total units Unit cost 1400 1400 100 14 2397 3797 241 15.755 1764.5809 2032.4191 129 15.755 157.55187 2189.971 139 15.755 19 1045 3234.971 194 16.675 19 95 3139.971 189 16.614 1478.6107 1661.3603 100 16.614 21 399 2060.3603 119 17.314 14 17 COGS 100 141 112 10 55 5 89 19 1400 2397 950 399 5146 Ending 14 17 112 17 1904 50 39 19 17 950 663 3517 19 19 21 100 141 29 39 50 100 19 194 189 100 119 14 17 17 17 19 14 21 1400 399 16.675 16.613 3234.95 3139.95 1661.35 17.314 2060.3492 Moving average Jul-01 122 Jul-06 122 Jul-11 132.89 Jul-14 132.89 Jul-21 142.30 Jul-27 142.30 1 6 11 14 21 27 175 245 280 700 FIFO Moving avLIFO Ending inv 36015 34864 33495 Highest ending inventory FIFO 122 136 147 70 8540 105.78 315 33320 140 14808.89 41160 420 55968.89 133.26 105 70 70 105 245 175 122 136 147 8540 9520 15435 33495 175 455 245 70 315 140 420 122 8540 132.89 41860 132.89 18604.44 142.30 59764.44