1 Modern Dcor Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500. During the month, Modern Dcor purchased and sold merchandise on account as follows: lune purchases of $750 each 10 of 1,150 Purchase sofas S775 cach 135 cofas & $1.300 Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Purchases 1 Cost of Goods Sold Inventory on Hand Quant Unit Total Quant Unit Total Quant Unit Total Cost Cost Cost Cost Cost Cost Date 2 McClain Designs Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500. During the month, McClain Designs purchased and sold merchandise on account as follows: Tunc phase sofas 5750 cach 14 Sale po 1.150 each 1 Purchase 50 sofas $25 cach 28 Sale 35 solo 5L200 Prepare a perpetual inventory record, using the weighted- average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. (Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Purchase I Cost of Goods Sold Inventory on Hand Quant Unit Total Quant Unit Total Quant Unit Total Cost Cost Cost Cost Cost Cost Date 1. Modern Dcor Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500. During the month, Modern Dcor purchased and sold merchandise on account as follows: June 7 14 18 27 Purchase Sale Purchase Sale 25 sofas @ $750 each 30 sofas @ 1,150 each 50 sofas @ $775 each 35 sofas @ $1,200 each Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. 1 Purchases | Cost of Goods Sold Inventory on Hand Quant Unit Total Quant Unit Total Quant Unit Total Cost Cost Cost Cost Cost Cost Date 2. McClain Designs Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500. During the month, McClain Designs purchased and sold merchandise on account as follows: June 7 Purchase 25 sofas @ $750 each Sale 30 sofas @ 1,150 each Purchase 50 sofas @ $775 each 27 Sale 35 sofas @ $1,200 each 14 18 Prepare a perpetual inventory record, using the weighted average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. (Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar.) 1 Purchases | Cost of Goods Sold Inventory on Hand Quant Unit Total Quant Unit Total Quant Unit Total Date Cost Cost Cost Cost Cost Cost
