Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

refer to Prepare a stock card using the following information A company is registered for GST which it pays quarterly, assume GST was last paid

refer to
image text in transcribed
Prepare a stock card using the following information A company is registered for GST which it pays quarterly, assume GST was last paid on the 30th of June 2019. It uses weighted average cost allocation method and the perpetual inventory recording method Additional information Cost of opening inventory items per unit is $20 Selling price per unit GST inclusive is $55 All inventory cost per unit includes GST TRANSECTIONS FOR THE MONTH Opening balance is $10 720.00 2 July sale on credit 79 units 5 July sale on credit 70 units 7 July purchased inventory on credit 22 units for $27 11 July sale on credit 66 units 14 July purchased inventory on credit 29 units for $25 18 July sale on credit 75 units 20 July purchased inventory on credit 21 units for $27 22 July sales on credit 63 units 24 July purchased inventory on credit 23 units for S 24 29 July sale on credit 57 units 30 July purchased inventory on credit 27 units for $26

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen, Peter Brewer

15th edition

978-0077522940

Students also viewed these Accounting questions