Save & Exit Following are the merchandising transactions for Dollar Store. 1 Dollar Store purchases merchandise for $2, 800 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1 5 Dollar Store pays cash for the November 1 purchase. 7 Dollar Store discovers and returns $200 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund. 10 Dollar Store pays $140 cash for transportation costs for the November 1 purchase. 13 Dollar Store sells merchandise for $3,024 with terms n/30. The cost of the merchandise is $1,512. 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $255 and cost $128; the items were not damaged and were returned to inventory. Nov. Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross method. View transaction list Journal entry worksheet 1 2 3 6 8 Dollar Store purchases merchandise for $2,800 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. Note: Enter debits before credits Date General Journal Debit Credit Nov 01 Record entry Clear entry View general journal Required Information The following information applies to the questions displayed below. Laker Company reported the following January purchases and sales data for its only product Units sold at Activities Units Acquired at Cost Date Retail Jan. 1 Beginning inventory 225 units@$15.00-$3,375 Jan.10 Sales 175 units@ $24.00 180 units@$14.00 Jan. 20 Purchase Jan. 25 Sales 2,520 175 units@ $24.00 Jan. 30 Purchase 350 units@$13.50- 4,725 $10,620 350 units Totals 755 units Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 405 units, where 350 are from the January 30 purchase, 5 are from the January 20 purchase, and 50 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b weighted average. () FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Weighted Average Specific Id FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventc 405 units, where 350 are from the January 30 purchase. 5 are from the January 20 purchase, and 50 are from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods # of unite Cost per Available for # of units # of units sold Cost per Cost of Goods Sold in ending Cost per unit Inventory Ending unit unit Sale inventory Beginning inventory Purchases Jan 20 Jan. 30 Total Weighted Average> Required Information [The following information applies to the questions displayed below Vail Company recorded the following selected transactions during November Date General Journal Debit Credit Nov. 5 Accounts Receivable-Ski Shop 4,097 Sales 4,097 10 Accounts Receivable-Welcome Enterprises 1,623 Sales 1,623 13 Accounts Receivable-Zia Natara 952 Sales 952 21 Sales Returns and Allowances 246 Accounts Receivable-Zia Natara 246 30 Accounts Receivable-Ski Shop 3,384 Sales 3,384 Required: a. Post the above entries to the general ledger. b. Post the above entries to the accounts receivable ledger Complete this question by entering your answers in the tabs below. Req 1A Req 18 Post the above entries to the general ledger. General Ledger Accounts Receivable Sales End Bl End Bal Sales Returns and Allowances End Bel Reci1A Rea 1B Save & Exit Following are the merchandising transactions for Dollar Store. 1 Dollar Store purchases merchandise for $2, 800 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1 5 Dollar Store pays cash for the November 1 purchase. 7 Dollar Store discovers and returns $200 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund. 10 Dollar Store pays $140 cash for transportation costs for the November 1 purchase. 13 Dollar Store sells merchandise for $3,024 with terms n/30. The cost of the merchandise is $1,512. 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $255 and cost $128; the items were not damaged and were returned to inventory. Nov. Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross method. View transaction list Journal entry worksheet 1 2 3 6 8 Dollar Store purchases merchandise for $2,800 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. Note: Enter debits before credits Date General Journal Debit Credit Nov 01 Record entry Clear entry View general journal Required Information The following information applies to the questions displayed below. Laker Company reported the following January purchases and sales data for its only product Units sold at Activities Units Acquired at Cost Date Retail Jan. 1 Beginning inventory 225 units@$15.00-$3,375 Jan.10 Sales 175 units@ $24.00 180 units@$14.00 Jan. 20 Purchase Jan. 25 Sales 2,520 175 units@ $24.00 Jan. 30 Purchase 350 units@$13.50- 4,725 $10,620 350 units Totals 755 units Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 405 units, where 350 are from the January 30 purchase, 5 are from the January 20 purchase, and 50 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b weighted average. () FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Weighted Average Specific Id FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventc 405 units, where 350 are from the January 30 purchase. 5 are from the January 20 purchase, and 50 are from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods # of unite Cost per Available for # of units # of units sold Cost per Cost of Goods Sold in ending Cost per unit Inventory Ending unit unit Sale inventory Beginning inventory Purchases Jan 20 Jan. 30 Total Weighted Average> Required Information [The following information applies to the questions displayed below Vail Company recorded the following selected transactions during November Date General Journal Debit Credit Nov. 5 Accounts Receivable-Ski Shop 4,097 Sales 4,097 10 Accounts Receivable-Welcome Enterprises 1,623 Sales 1,623 13 Accounts Receivable-Zia Natara 952 Sales 952 21 Sales Returns and Allowances 246 Accounts Receivable-Zia Natara 246 30 Accounts Receivable-Ski Shop 3,384 Sales 3,384 Required: a. Post the above entries to the general ledger. b. Post the above entries to the accounts receivable ledger Complete this question by entering your answers in the tabs below. Req 1A Req 18 Post the above entries to the general ledger. General Ledger Accounts Receivable Sales End Bl End Bal Sales Returns and Allowances End Bel Reci1A Rea 1B