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Question 9 You are given the following information for Oriole Company for the month ended November 30, 2017: Unit Date Description Juits Price Nav. 1 Beginning Inventory 60 9 Purchase 100 15 Sale (125) 22 Purchase 150 29 (170) 30 Purchase 44 Oriole Company uses a perpetual inventory system. All sales and purchases are on account. Your answer is partially correct. Try again. Calculate the cost of goods sold and the ending inventory using FIFO. (Round answers to 0 decimal places, e.g. 5,275.) Cast of goods sold Ending inventory 2.552 SHOW LIST OF ACOHINTS SHOW ANSWER LINK TO TEXT LINK TO TEST Your answer is partially correct. Try again. Assume the sales price was $66 per unit for the goods sold on November 15, and $60 per unit for the sale on November 29. Prepare journal entries to record the November 22 purchase and the November 29 sale. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Crocii How. 22 Merchandise Inventory Accounts Payable Now. 29 Accounts Receivable Sales Nov. 29 eat of Goods Sol 7.500 Merchandise Inventory 7,500 To record can of goods sall THOSE LEST OF ACCOUNTS SHOW ANSWER LINK TO TEXT LINE TO TEXT Your answer is correct. Calculate gross profit for November. (Round answer to 0 decimal places, e.g. 5,275.) Gross profit 4.970 THE LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINE TO TEXT Your answer is partially correct. Try again. Assume that at the end of November, the company counted its inventory. There are 57 units on hand. What journal entry, if any, should the company make to record the shortage? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Account Title and Explanation Ondh Accounts Payable Merchandise Inventory