question. 4 5628 Suki Supplies uses a perpetual inventory system. Please answer the following questions related to the information provided for the month's transactions. Assume that Suki uses the average cost method. a. Average Cost: 7 Purchases 8 Date Units Unit Cost Units Sales Unit Price 9 1-Jul 200 $4.00 10 3-Jul 50 $5.40 11 4-Jul 170 $10.00 12 10-Jul 40 $5.60 13 26-Jul 60 $11.00 14 28-Jul 100 $6.00 15 31-Jul 75 $11.50 16 17 REQUIRED: 18 Please prepare your calculations in the template on the right. 19 You can organize your answers below, then PLEASE TRANSFER your final answers 20 to the exam. 21 22 1. What is the Cost of Goods Sold for the month using the 23 Average Cost Method? (1 mark) 24 25 COGS 26. 27 2. What is the ending inventory amount that would appear on the Statement of 28 Financial Position (also known as the Balance Sheet) for Suki Supplies using 29 the Average Cost Method? (1 mark) 30 31 Ending inventory 32 33 3. What is the journal entry(s) that Suki Supplies would prepare on July 28 using 34 the Average Cost Method? Assume this was a cash transaction. (1 mark) 35 36 General Journal 37 Date Account Titles Debit Credit AVG Cost Question Copy of question New