Answered step by step
Verified Expert Solution
Question
1 Approved Answer
of tion 1. Complete the inventory table below (12 Marks). 2. Answer the 2 questions following the table (3 Marks) Each box must be
of tion 1. Complete the inventory table below (12 Marks). 2. Answer the 2 questions following the table (3 Marks) Each box must be completed - if there is no value then enter a zero. All answers are numbers which consist only of the digits 0 to 9. Symbols or punctuation marks should NOT be incorporated in answers. Date 01/06/18 02/06/18 08/06/18 23/06/18 30/06/18 Date 01/06/18 02/06/18 08/06/18 23/06/18 30/06/18 8 0 Description Had 8 units of inventory on hand at a cost of $100 Purchased 8 units at $106 each (GST Exl) Sold 14 units at $200 each Purchased 20 units. Total invoice was for $2,508 Sold 17 units at $220 each 20 0 Qty 106 0 Purchases Unit Cost 125.4 x 0 848 0 Total Cost 2508 x 0 What is the total Cost of Goods Sold? 6540 What is the value of ending inventory? 4156 > 0 14 0 17 x 2 Marks x 1 Marks Qty x x Cost of Sales Unit Cost 0 200 0 220 X 0 X 2800 Total Cost 0 3740 8 x x x 0 0 0 0 Qty Inventory On Hand Unit Cost 100 x x x x 0 0 0 0 x 800 x x x 0 0 0 0 Total
Step by Step Solution
★★★★★
3.41 Rating (160 Votes )
There are 3 Steps involved in it
Step: 1
Date 01062018 02062018 08062018 23062018 Purchase Cost of Sales Inventory on Hand Qty Unit ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Document Format ( 2 attachments)
635dc8f5a90b5_178843.pdf
180 KBs PDF File
635dc8f5a90b5_178843.docx
120 KBs Word File
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started