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Part 1: Compute Cost of Goods Available for Sale: Part 2: Compute Ending Inventory and Cost of Goods Sold assuming Eagle Company uses: (a) Periodic
Part 1: Compute Cost of Goods Available for Sale: Part 2: Compute Ending Inventory and Cost of Goods Sold assuming Eagle Company uses: (a) Periodic System, LIFO (b) Perpetual system, LIFO Part 3: Prepare the proper journal entries for Eagle| Company for all the transactions using both periodic and perpetual systems. Assume all purchases and sales are on account. 3/1 Purchase 900 units at $7 \begin{tabular}{|l|l|} \hline Journal Entry under Perpetual & Journal Entry under Periodic \\ \hline & \\ \hline \end{tabular} 5/2 Sale of 1,200 units at $15 \begin{tabular}{|l|l|} \hline Journal Entry under Perpetual & Journal Entry under Periodic \\ \hline & \\ \hline \end{tabular} 7/20 Purchase 1,000 units at $9 \begin{tabular}{|l|l|} \hline Journal Entry under Perpetual & Journal Entry under Periodic \\ \hline & \\ \hline \end{tabular} 12/1 Sale of 800 units at $16 \begin{tabular}{|l|l|} \hline Journal Entry under Perpetual & Journal Entry under Periodic \\ \hline & \\ \hline \end{tabular} End of period entries for inventory accounts (if needed) \begin{tabular}{|l|l|} \hline Journal Entry under Perpetual & Journal Entry under Periodic \\ \hline & \\ \hline \end{tabular} Part 1: Compute Cost of Goods Available for Sale: Part 2: Compute Ending Inventory and Cost of Goods Sold assuming Eagle Company uses: (a) Periodic System, LIFO (b) Perpetual system, LIFO Part 3: Prepare the proper journal entries for Eagle| Company for all the transactions using both periodic and perpetual systems. Assume all purchases and sales are on account. 3/1 Purchase 900 units at $7 \begin{tabular}{|l|l|} \hline Journal Entry under Perpetual & Journal Entry under Periodic \\ \hline & \\ \hline \end{tabular} 5/2 Sale of 1,200 units at $15 \begin{tabular}{|l|l|} \hline Journal Entry under Perpetual & Journal Entry under Periodic \\ \hline & \\ \hline \end{tabular} 7/20 Purchase 1,000 units at $9 \begin{tabular}{|l|l|} \hline Journal Entry under Perpetual & Journal Entry under Periodic \\ \hline & \\ \hline \end{tabular} 12/1 Sale of 800 units at $16 \begin{tabular}{|l|l|} \hline Journal Entry under Perpetual & Journal Entry under Periodic \\ \hline & \\ \hline \end{tabular} End of period entries for inventory accounts (if needed) \begin{tabular}{|l|l|} \hline Journal Entry under Perpetual & Journal Entry under Periodic \\ \hline & \\ \hline \end{tabular}
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