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odic inventory system he merchandise inven- during April were as LO2 problems, labor problems, etc.) P6-2A. Inventory Costing Methods Periodic Method Fortune Stores uses the

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odic inventory system he merchandise inven- during April were as LO2 problems, labor problems, etc.) P6-2A. Inventory Costing Methods Periodic Method Fortune Stores uses the periodic inventor for its merchandise inventory. The April 1 inventory for one of the items in the merchandis tory consisted of 120 units with a unit cost of $330. Transactions for this item during April follows: April 9 Purchased 40 units @ $345 per unit. 14 Sold 80 units @ $550 per unit. 23 Purchased 20 units @ $350 per unit. 29 Sold 40 units @ $550 per unit. Required a. Calculate the cost of goods sold and the ending inventory cost for the month of April using the weighted average cost method. Round your final answers to the nearest dollar, b. Calculate the cost of goods sold and the ending inventory cost for the month of April using the first-in, first-out method. c. Calculate the cost of goods sold and the ending inventory cost for the month of April using the last-in. first-out method. 3 At December 31, 2016 the Cash account in the Tyler Company's general ledger had a debit balance of 511, 343.27 The December 11, 2015 bank statement showed a blance of $19.76.00. In reconciling the tow amounts you discovered the following: 1 Bank deposits made by Tyler on December amounting to $2.145. do not appear on the bankstatement 2 A non interest bearing not receivable from the Smith Company of,000 left with the bank for collection was collected by the bank at the end of December The bank credited the proceeds, less a $5 collection charge on the bank statement. Tyler Company has not recorded the collection 3 Accompanying the bank statement is a debit memorandum indicating that John Miller's check for $450 was charged against Tyler's bank account on December 30 because of insuff 4 Chech No 586 written for advertising expense of $86.10 was recorded as 9.30 by Tyler Company 5. A comparison of the paid checks returned by the bank with the recorded disbursements revealed that the following checks are still outstanding as of December 31 591 476.4 190 225 552 The mistakenly charged Tyler Company's account for check printing costs of $30. So which should have been charged to Taylor Company 7 The bank charged tyler Company's account 5.42.50 for the rental of a safe deposit box. No entry has been made by Tyler's records for this expense 23 Required Prepare a bank reconciliation of December 11 2016 Prepare any necessary journal entries at December 31, 2016

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