Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help Canadian Tire sells car wash cleaners. Canadian Tire uses a perpetual inventory system and made purchase: product in 2020 as follows: Jan. 1
please help
Canadian Tire sells car wash cleaners. Canadian Tire uses a perpetual inventory system and made purchase: product in 2020 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold Mar. 130 units @ $ 8.00 = $ 1,040.00 60 units @ $16.50 990.00 400 units @ $ 7.30 2,920.00 120 units @ $16.50 1,980.00 650 units @ $ 7.10 4,615.00 600 units @ $ 7.00 4,200.00 870 units @ $16.50 14,355.00 Assume that Canadian Tire specifically sold the following unitsi Jan. 109 60 units from beginning inventory Mar. 15: 30 units from beginning inventory, and 90 units from the March 7 purchase Oct. 5: 350 units from the July 28 purchase, and 520 units from the October 3 purchase Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decir Ending inventory Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 120 units @ $16.50 650 units @ $ 7.10 600 units @ $ 7.00 870 units @ $16.50 1,980:00 4,615.00 4,200.00 14,355.00 Assume that Canadian Tire specifically sold the following units dan 10: 60 units from beginning inventory . 15: 30 units from beginning inventory, and 90 units from the March 7 purchase Oct. 5: 350 units from the July 28 purchase, and 520 units from the October 3 purchase Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 Ending inventory Cost of goods soldStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started