Q6- In 4-10-2019 Jericho Company sold 3,200 units at $ 9 each. The cost of each unit was $5. Record the sales transaction by using perpetual inventory system if the company gave the customer trade discount of 5% as he paid 40% cash and the rest under credit term of 3/10/N40

Q2- The flowing information is related to Ford company that use perpetual inventory system to record its sales transactions. in addition, Ford evaluate its inventory by implementing weighted average method. Date Explanation Quantity Unit price Total 1/1/2018 Beginning inventory 2,400 8 19,200 13/4/2018 Purchase 1,800 9 16,200 17/5/2018 Purchase 800 7 5,600 15/8/2018 Purchase 900 10 900 13/12/2018 Purchase return 180 10 1800 Requirements: At 12/7/2018 the company sold 2,950 units at a sales price of $ 13 In 14/7/2018 the customer returns 140 units as it was defected. 1- Prepare multi step income statement to show the gross profit of 2018. 2- Calculate the ending inventory of 2018