Question
Option #1: Inventory Entries Practice Exercises Below is a record of the purchases and sales of inventory throughout the first four months: Units Cost/Price Per
Option #1: Inventory Entries Practice Exercises
Below is a record of the purchases and sales of inventory throughout the first four months:
| Units | Cost/Price Per Unit | |
| 1/1/x7 Beginning Balance | 100 | $3.50 |
| 1/31/x7 Purchase | 125 | $4.00 |
| 2/15/x7 Purchase | 250 | $4.50 |
| 2/25/x7 Sale | 150 | $7.75 |
| 3/10/x7 Purchase | 300 | $5.00 |
| 3/31/x7 Purchase | 75 | $5.50 |
| 4/10/x7 Sale | 225 | $8.25 |
| 4/15/x7 Purchase | 100 | $6.00 |
| 4/30/x7 Sale | 350 | $8.50 |
Requirements:
- How many units were available for sale throughout the year?
- What was the total value of all goods available for sale throughout the year?
- How many physical units were sold?
- How many physical units are in ending inventory?
- What is the total sales value for all three sales?
| Units | Price Per Unit | Total | |
| 2/25/x7 Sale |
|
|
|
| 4/10/x7 Sale |
|
|
|
| 4/30/x7 Sale |
|
|
|
| Total |
|
|
|
Each assignment must include a title page and reference page. Review the grading rubric to understand how you will be graded on this assignment. Reach out to your instructor if you have questions about the assignment.
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