please give explanation and calculating steps
Current Attempt in Progress 4 6 7 8 Presented here are selected transactions for Toth Company during September of the current year. Toth Company uses a perpetual inventory system. Toth Company estimates a return rate of 5% based on past experience. Sept.2 Purchased equipment on account for $58,800, terms n/30, FOB destination. 3 Freight charges of $1,050 were paid by the appropriate party on the September 2 purchase of equipment. Purchased supplies for $3,600 cash. Purchased inventory on account from Southlake Corp. at a cost of $68,900, terms 1/15, 1/30, FOB shipping point. Freight charges of $1,700 were paid by the appropriate party on the September 6 inventory purchase. Returned damaged goods costing $5,300 that were originally purchased from Southlake Corp. on September 6. Received a credit on account. Sold goods costing $14,600 to Fischer Limited for $20,600 on account, terms n/30, FOB destination. Freight charges of $390 were paid by the appropriate party on the September 9 sale of inventory. Received the balance due from Fischer. 20 Paid Southlake Corp. the balance due. 21 Purchased inventory for $6,600 cash. 22 Sold inventory costing $18,000 to Kun-Tai Inc. for $24,600 on account, terms n/30, FOB shipping point. 23 Freight charges of $600 were paid by the appropriate party on the September 22 sale of inventory. Kun-Tai returned goods sold for $970 that cost $780. The merchandise was restored to inventory 9 10 17 28 (a) Record the September transactions on Toth Company's books. (List all debit entries before credit entries. Credit account titles are 22 23 28 Sold inventory costing $18,000 to Kun-Tai Inc for $24.600 on account termsn/30, FOB shipping point. Freight charges of $600 were paid by the appropriate party on the September 22 sale of inventory. Kun-Tai returned goods sold for $970 that cost $780. The merchandise was restored to inventory. (a) Record the September transactions on Toth Company's books. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the amounts. Round answers to the nearest whole dollar, eg: 5.275.) Date Account Titles and Explanation Debit Credit The following information on cost and net realizable value of Blue Ltd's various inventory categories was gathered at December 31, 2021: Inventory Categories Desktops Tablets and readers Laptops Tablets and readers Cost $346,100 167,400 222,600 96.900 NRV $325,400 222,500 287,100 93.900 (a) Calculate the lower of cost and net realizable value for each inventory category within Blue's inventory. Lower of cost and net realizable value $ List of Accounts Save for Later Attempts: 0 of 1 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. Your answer has been saved. See score details after the due date. Helgeson Inc. identifies the following items as possibly belonging in its physical inventory count. For each item, indicate if Helgeson should or should not include the item in the inventory. (a) Goods shipped on consignment by Helgeson to another company. (b) Goods held on consignment by Helgeson from another company. (c) Goods in transit to a customer, shipped FOB destination. (d) Goods in transit to Helgeson from a supplier shipped FOB shipping point. (e) Goods in transit to a customer, shipped FOB shipping point. (f) Goods in transit to Helgeson from a supplier, shipped FOB destination. Should be included Should not be included Should be included Should be included Should not be included Should not be included Attempts: 1 of 1 used
