Required information RWP6-1 (Algo) Great Adventures Continuing Case [The following information applies to the questions displayed below.] Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025 . All watches are sold for $496 each. July 17 Purchased 46 watches for $6,716 ( $146 per watch) on account. July 31 Sold 36 watches for $17,856 cash. August 12 Purchased 36 watches for $5,616 ( $156 per watch) cash. August 22 Sold 26 watches for $12,896 on account. September 19 Paid for watches purchased on July 17. September 27 Receive cash of $17,400 for watches sold on account on August 22 . October 27 Purchased 76 watches for $12,616 ( \$166 per watch) cash. November 20 Sold 86 watches for $42,656 cash. December 4 Purchased 112 watches for $19,712 ( $176 per watch) on account. December 8 Sold 36 watches for $17,856 on account. RWP6-1 (Algo) Great Adventures Continuing Case Part 1 Required: 1-a. Calculate sales revenue, cost of goods sold, and ending inventory as of December 31, 2025, assuming Suzie uses a FIFO perpetual inventory system to account for inventory. 1-b. Prepare the gross profit section of a partial income statement for transactions related to MU watches. Complete this question by entering your answers in the tabs below. Calculate sales revenue, cost of goods sold, and ending inventory as of December 31, 2025, assuming Suzie uses a FIFO perpetual inventory system to account for inventory. Required information RWP6-1 (Algo) Great Adventures Continuing Case [The following information applies to the questions displayed below.] Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025 . All watches are sold for $496 each. July 17 Purchased 46 watches for $6,716 ( $146 per watch) on account. July 31 Sold 36 watches for $17,856 cash. August 12 Purchased 36 watches for $5,616 ( $156 per watch) cash. August 22 Sold 26 watches for $12,896 on account. September 19 Paid for watches purchased on July 17. September 27 Receive cash of $17,400 for watches sold on account on August 22 . October 27 Purchased 76 watches for $12,616 ( \$166 per watch) cash. November 20 Sold 86 watches for $42,656 cash. December 4 Purchased 112 watches for $19,712 ( $176 per watch) on account. December 8 Sold 36 watches for $17,856 on account. RWP6-1 (Algo) Great Adventures Continuing Case Part 1 Required: 1-a. Calculate sales revenue, cost of goods sold, and ending inventory as of December 31, 2025, assuming Suzie uses a FIFO perpetual inventory system to account for inventory. 1-b. Prepare the gross profit section of a partial income statement for transactions related to MU watches. Complete this question by entering your answers in the tabs below. Calculate sales revenue, cost of goods sold, and ending inventory as of December 31, 2025, assuming Suzie uses a FIFO perpetual inventory system to account for inventory
