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please help!! Cant seem to get the right answer Pequired information [The following information applies to the questions displayed below] Now that operations for outdoof
please help!! Cant seem to get the right answer
Pequired information [The following information applies to the questions displayed below] Now that operations for outdoof clinics and TEAM events are running smoothly, 5uzie thinks of another area for business expansion. She notices that a few clinic participants wear multise (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are Woterprook, so moisture from kayeking, fain, fishing, or even diving up to 100 feet wont damage them, Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022 . All watches are sold for $506 each. Jut. 17 Purchased 56 watches for $8, 736 (\$156 per watch) on account, 3ut. 11 Sold 46 watches for $23,276 cash. Aug. 12 Purchased 46 watches for $1,636 (\$166 per watch) cash. Aug. 22 . Sold 36 watehes for $18,216 on account. Spp. 19 Paid for watches purchased on July 17 . Sep. 27 flecelve cash of $12,600 for wstches sold on account on August 22 . 0ct. 21 Purchased 80 watches for $15,136 (3176 per watch) cash. Now. 20 Sold 96 watches for 448,376 cash. Dec, 4 Purchased 112 vatehes for 320,832 (\$186 per watch) on account. Dec, if Sold 46 vatehes for 123,276 on account. Required: 1-a. Calculate sales revenue, cost of goods sold, and ending inventory as of December 31, 2022, assuming suzie uses FiFO to account for inventory. 1-b. Prepare the gross profit section of a partial income statement for transactions related to MU watches Step by Step Solution
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