only PR7-2A, this is the only information.

Chapter 7 Inventories 359 Number Date Per Transaction of Units Unit Total Feb. s Sale 500 $120.00 $ 60,000 10 Purchase 18.000 70.00 1.260,000 16 Sale 9,000 125.00 1.125.000 28 Sale 8.500 125.00 1,062,500 Mat. 5 Purchase 15.000 71.60 1,074,000 14 Sale 10,000 125.00 1.250,000 25 Purchase 2,500 72.00 180.000 30 Sale 8.750 125.00 1,093,750 Instructions 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inven tory record similar to the one illustrated in Exhibit 4, using the first-in, first-out method. 2. Determine the total sales and the total cost of merchandise sold for the period. Jour- nalize the entries in the sales and cost of merchandise sold accounts. Assume that all sales were on account. 3. Determine the gross profit from sales for the period 4. Determine the ending inventory cost as of March 31, 2016. 5. Based upon the preceding data, would you expect the inventory using the last-in, first-out method to be higher or lower? 2. Gross profit, 252,250 PR 7-24 LIFO perpetual inventory OBJ. 2,3 The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period are shown in Problem 7-1A. Instructions 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the last-in, first-out method. 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. 3. Determine the ending inventory cost as of March 31, 2016. w PR 7-3A Weighted average cost method with perpetual inventory OBJ. 2,3 The beginning inventory for Funky Party Supplies and data on purchases and sales for a three-month period are shown in Problem 7-1A. ctions cord the inventory, purchases, and cost of merchandise sold data in a perpetual entory record similar to the one illustrated in Exhibit 6, using the weighted average st method. termine the total sales, the total cost of merchandise sold and the s: Series A OBJ. 2,3 PR 7-1A FIFO perpetual inventory The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period ending March 31, 2016, are as follows: Date Jan. 1 10 28 30 Transaction Inventory Purchase Sale Sale Number of Units 2,500 7,500 3,750 1,250 Per Unit $60.00 68.00 120.00 120.00 Total $150,000 510,000 450,000 150,000