SF6-4 (similar to) Ansigned Media Question Help Shepherd Cydes started October with bileydies that 00 848 each On October 16, Shepherd purchased 30 bicydes at 365 each. On October 31, Shepherd sold 16 bleycles for $97 each. Requirements Prepare Shepherd Cycle's perpetual Inventory record assuming the company uses the FIFO inventory costing method. Joumalize the October 16 purchase of merchandise inventory on account and the October 31 sale of merchandise inventory an account 1. 24 Requirement 1. Prepare Shepherd Cycle's perpetual Inventory record suming the company uses the FIFO Inventory conting method Bhart by entering the beginning inventory balance. Enter the transactions in chronological order, calculating new invertory on hand balance after each transaction Once all of the transactions have been entered to the perpeto record, calculate the quantity and total cost of inventory Burchased sold, and on and at the end of the period. (Enter the oldest inventory layers first. Abbreviation wted OrY.Our Tol Toll) Shepherd Cycles Purchase Date QTY Unit Cost Tot Com Oct 1 Cost of Goods Sold QTY Unit Coat Tot. Cost Inventory on Hand OTY Unit Cost Tol Coat Graded Save Score: 0 of 10 pts 3 of 9 (1 complete HW Score: 17.53%, 17 of 97 pts SF6-5 (similar to) Assigned Media Question Help Mountain Cycles started July with 5 bicycles that cost 548 each On July 16, Mountain purchased 30 bicycles at $56 each. On July 31, Mountain sold 15 bicycles for $20 each Requirements 1. Prepare Mountain Cycle's perpetual inventory record assuming the company uses the LIFO inventory conting method. 2. Journalize the July 16 purchase of merchandise inventory on account and the July 31 sale of merchandise inventory on account. Requirement 1. Prepare Mountain Cycle's perpetual Inventory record assuming the company uses the LIFO Inventory costing method Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new invertory on hand balances after each transaction Once all of the transactions ha been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (For cost of goods sold enter the first layer out under LIFO conting first. For inventory on hand enter the oldest inventory layer first. Abbreviation used: QTY - Quantity: Tot. Total) Mountain Cycles Purchases Cost of Goods Sold Inventory on Hand Date ATY Unit Cost Tot. Cout QTY Unit Cost Tot. Cost QTY Unit Cost Tot. Cost Jul 1 Enter any number in the edit fields and then click Check Answer. 6 parts remaining Clear All Check Answer Save wetu Homework: Ch 6 Homework A - Graded Score: 0 of 10 pts 4 of 9 (1 complete) HW Score: 17.53%, 17 of 97 pts SF6-6 (similar to) Assigned Media Question Help New Tech Cycles started January with 12 bicycles that cost $42 each. On January 16, New Tech purchased 40 bicycles at $68 each. On January 31, New Tech sold 27 bicycles for S108 each. Requirements Preparo New Tech Cycle's perpetual Inventory record assuming the company uses the weighted average Inventory costing method Joumalize the January 16 purchase of merchandise inventory on account and the January 31 sale of merchandise inventory on account 1. 2. Requirement 1. Prepare New Tech Cycle's perpetual inventory record assuming the company uses the weighted average inventory costing method Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have ben entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Abbreviation used OTY - Quantity: Tot. Total New Tech Cycles Purchases Cost of Goods Sold Inventory on Hand Date QTY Unit Cost Tot. Cost QTY Unit Cost Tot. Cost QTY Unit Cost Tot. Cost [Jan 1 Enter any number in the edit fields and then click Check Answer. 6 Part remaining Clear All Check Answer Homework: Ch 6 Homework A-Graded Sa Score: 0 of 10 pts 5 of 9 (1 complete) HW Score: 17.53%, 17 of 97 SF6-8 (similar to) Assigned Media Question Help Assume that a Prime Burger restaurant has the following perpetuat inventory record for hamburger patties (Click the icon to view the perpetual inventory record.) At July 31, the accountant for the restaurant determines that the current replacement cost of the ending merchandise Inventory is $380. Make any adjusting entry needed to apply the lower-of-cost-or-market rule. Morchandise inventory would be reported on the balance sheet at what value on July 31? Make any adjusting entry needed to apply the lower of cost or market rule (Record debits first, then credits. Exclude explanations from ournal entries. For situations that do not require an entry make sure to select "No entry required in the first cell in the "Accounts" column and leave all other cells blank.) Date Accounts Debit Credit Data Table Jul 31 Sold Date Jul 9 Jul. 22 Jul 31 Cost of Goods Merchandise Purchases Inventory on Hand S 430 5 430 5 210 220 230 450 Print Done Choose from any list or enter any number in the input fields and then click Check Answer part 1 remaining Clear All Check Answer Homework: Ch 6 Homework A-Graded Score: 0 of 10 pts 6 of 9 (1 complete) HW Score: 17.53%, 17 of SF6-9 (similar to) Assigned Media Question Help California Pool Supplies' merchandise inventory data for the year ended December 31, 2025, follow. (Click the icon to view the inventory data) Read the requirements Requirement 1. Assume that the ending merchandise inventory was accidentally overstated by $1,900. What are the correct amounts for cost of goods sold and gross prom? Cost of goods sold in 2025 would be Data Table S 71.000 $ 4.300 28,500 Net Sales Revenue Cost of Goods Sold Beginning Merchandise Inventory Plus: Net Cost of Inventory Purchased Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold 32.800 5,500 27,300 $ 43,700 Enter any number in the edit fields and then click Check Answer. Gross Profit 3 parts remaining Print Dono MacBook Pro esc % 5 & 7 C 9 7 3 4 6 8 0 HW Score: 17.539 Homework: Ch 6 Homework A - Graded Score: 0 of 10 pts 7 of 9 (1 complete) SF6A-11 (similar to) Assigned Media The periodic inventory records of Synergy Prosthetics indicate the following for the month of October (Click the icon to view the inventory records.) At October 31, Synergy counts four units of inventory on hand. Compute ending merchandise inventory and cost of goods sold for Synergy using the FIFO inventory costing method. Questio! FIFO Cost Data Table Ending Merchandise Inventory Cost of Goods Sold Oct. 1 Beginning merchandise Inventory Oct. 8 Purchase Oct. 15 Purchase 8 units $25 each 15 units 520 each 15 units $32 each 12 units @ $35 each Oct. 26 Purchase Print Done Enter any number in the edit fields and then click Check Answer All parts showing Clear All Check Answer Homework: Ch 6 Homework A-Graded Score: 0 of 10 pts 8 of 9 (1 complete) HW Score: 1 QL SF6A-12 (similar to) Assigned Media The periodic inventory records of Weston Prosthetics indicate the following for the month of December Click the icon to view the inventory records.) At December 31, Wexton counts five units of inventory on hand. Compute ending merchandise inventory and cost of goods sold for Wexton using the LIFO Inventory costing method. LIFO Cost 0 Data Table Ending Merchandise Inventory Cost of Goods Sold Dec. 1 Beginning merchandise inventory Dec. & Purchase Dec. 15 Purchase Dec. 26 Purchase 8 units $45 each 10 units @ $54 each 13 units 555 each 15 units @ $61 each Print Done Enter any number in the edit fields and then click Check Answer. All parts showing Clear All Check MacBook Pro Homework: Ch 6 Homework A-Graded HW Score: 17.53%. Question He Score: 0 of 10 pts 9 of 9 (1 complete) SF6A-13 (similar to) Assigned Media The periodic Inventory records of Flexon Prosthetics indicate the following for the month of July (Click the icon to view the inventory records) At July 31, Flexon counts four units of inventory on hand. Compute ending merchandise inventory and cost of goods sold for Flexon using the weighted average inventory costing method. Weighted average Data Table Ending Merchandise Inventory Cost of Goods Sold 6 units @ $60 each 5 units $67 each Jul. 1 Beginning merchandise inventory Jul. 8 Purchase Jul. 15 Purchase Jul. 26 Purchase 10 units @ $70 each 5 units @ $85 each Print Done Enter any number in the edit fields and then click Check Answer All parts showing Clear All Check