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tory in crates of merchandise; each crate of inventony is a is each January 31. Assume you are dealing with a single pli. The Jackson store began the year with an inventory of 9000. During the year, the store purchased merchandise on ases.) Data table Nice Buy Company purchases inventory in crates of merchandise, each crate of imventory is a unt. The fiscal year of Nice Buy ends each January 31 . Assume you are dealing with a single Nice Buy store in Jackson, Mississippi. The Jackson store began the year with an inventory of 13,000 units that cost a total of $689,000. During the year, the slore purchased meechandise on account ss follows: (Click the icon to verw the purchases ) Cash payments on account totaled 58,592,000. During fiscal year 2021, the store sold 145,000 unis of merchandise for $14,852,500. of which $5,300,000 was for cash and the balance was on account Nice Buy and all of its slores use the average-cost method for inventories. The Jackson store's operating expenses for the year were $2,600,000 it paid 70% in cash and accrued the rest as accrued lisbletes. The store accrued income tax at the rate of 40%. Read the tedeirements: Requirement 1. Make summary joumal entries to record the slore's transactions for the year ended January 31, 2021. Nice Buy and al of its stores use a perpetial inventory system. Round Lefs start weh the entry to record the purchases on account. purchases inventory in crates of reerchandise; each crate of inventory is a of Nice Buy ends each Jahuary 31. Assume you are doaling with a single otson, Missiskippl. The Jackson store began the year with an invertiory of st a total of $689,000. During the yeac, the store punchased merchandise on beve the purchases.) Requirements 1. Make sumpary joumal entries to record the store's transactions for the year ended January 31,2021 , Nice Buy and all of its stores use a perpetual inventory system. Round average cost per unit to two decimal places and round all other amounts to the nearest dollar. 2. Prepare a T-pocount to show the activity in the imventory account. 2. Prepace the store's inceme statement for the year ended January 31,2027 . Show tohals for groes proht, income before tax, and net income. tory in crates of merchandise; each crate of inventony is a is each January 31. Assume you are dealing with a single pli. The Jackson store began the year with an inventory of 9000. During the year, the store purchased merchandise on ases.) Data table Nice Buy Company purchases inventory in crates of merchandise, each crate of imventory is a unt. The fiscal year of Nice Buy ends each January 31 . Assume you are dealing with a single Nice Buy store in Jackson, Mississippi. The Jackson store began the year with an inventory of 13,000 units that cost a total of $689,000. During the year, the slore purchased meechandise on account ss follows: (Click the icon to verw the purchases ) Cash payments on account totaled 58,592,000. During fiscal year 2021, the store sold 145,000 unis of merchandise for $14,852,500. of which $5,300,000 was for cash and the balance was on account Nice Buy and all of its slores use the average-cost method for inventories. The Jackson store's operating expenses for the year were $2,600,000 it paid 70% in cash and accrued the rest as accrued lisbletes. The store accrued income tax at the rate of 40%. Read the tedeirements: Requirement 1. Make summary joumal entries to record the slore's transactions for the year ended January 31, 2021. Nice Buy and al of its stores use a perpetial inventory system. Round Lefs start weh the entry to record the purchases on account. purchases inventory in crates of reerchandise; each crate of inventory is a of Nice Buy ends each Jahuary 31. Assume you are doaling with a single otson, Missiskippl. The Jackson store began the year with an invertiory of st a total of $689,000. During the yeac, the store punchased merchandise on beve the purchases.) Requirements 1. Make sumpary joumal entries to record the store's transactions for the year ended January 31,2021 , Nice Buy and all of its stores use a perpetual inventory system. Round average cost per unit to two decimal places and round all other amounts to the nearest dollar. 2. Prepare a T-pocount to show the activity in the imventory account. 2. Prepace the store's inceme statement for the year ended January 31,2027 . Show tohals for groes proht, income before tax, and net income
