> Shepherd Cycles uses the FIFO inventory mothod Shepherd started March with ton bicycles that cost $230 och On March 16, Shepherd bought 40 bicycles at $300 each On March 31, Shepherd sold 30 bicycles. Prepare Shopherd's perpetual inventory record Prepare the perpetunt inventory record Start by entering the opening inventory balance Enter the transactions in chronological order When entering sal enter the first cost to come out of inventory on the first line. Be sure to calculate the balance after each transaction (Use a minus sign or parentheses when subtracting numbers Shepherd Cycles Date Quantity Unit Cost Total Cost Mar Shepherd Cycles uses the FIFO inventory method Shepherd started March with ten bicycles that cost $230 each On March 16, Shepherd bought 40 bicycles at $300 each On March 31, Shepherd sold 30 bicycles. Prepare Shepherd's perpetual inventory record Prepare the perpetual inventory record Start by entering the opening inventory balance Enter the transactions in chronological order When entoring sales one the first cost to come out of inventory on the first line Be sure to calculate the balance after each transaction (Use a minus sign or parentheses when subtracting numbers.) Shepherd Cycles Quantity Unit Cost Date Total Cost Mar The Wonderful World of Music carries a large inventory of guitars and other musical instruments. The store uses the FIFO method and a perpetual inventory system Company records indicate the following for a particular line of guitars Date Item Quantity Unit Cost Jun 1 Balance $920 6 Sale 2 8 Purchase 10 $852 17 Sale 4 30 Purchase 5 $852 Prepare the perpetual inventory record Start by entering the opening balance of inventory Enter the transactions in chronological order. When entering enter the oldest cost in the first line Be sure to calculate the balance after each transaction (Use parentheses or a minus sign in front of the quantity and the total cost when those numbers are subtracted from inventory Date Quantity Unit Cost Total Cost Jun Required Prepare a perpetual inventory record for the guitars. Then determine the amounts The Wonderful World of Music should report for ending inventory and cost of goods sold under the FIFO method Music Unlimited Store carries a large inventory of guitars and other musical instruments Company records indicate the following for a particular line of guitars Date Item Quantity Unit Cost First make an inventory schedule and enter each purchase and we start ty entering the opening balance of entory Be sure to calculate the balance ifter oach transaction (Use parentheses or a minus sign in front of the quantity and the total cost when those numbers are subtracted from inventory Round average cost per unit to two decimals (X.XX) and total cost to the nearest dollar) Nov $960 1 Balance 6 Sale 8 Purchase 17 Sale 30 Purchase 5 3 10 4 5 890 Date Quantity Unit Cost Total Cost 890 Nov Required Assume that the store uses the moving-weighted average cost method Prepare Music Unlimited Store's perpetual inventory record for the guitars on the moving weighted average cost basis. Round average cost per unit to the nearest cent and all other amounts to the nearest dollar Choose the name of the inventory method that best hits the description (specific unit, FIFO, or weighted average) Assume that the cost of inventory is ming a Maximizes reported not income when inventory purchase prices are taling FIFO Specific unit cost Weighted average cost Hom's Company account yel the data to the newest 2000 Click the icon to view the accounting records Required Journal Ros Company information to the year in a preto som en de 2. porting sales cost of old man on the grant Requirement Companys com mellom The main the purch vor den Record debits first the crede de explanations from ouales) Journal Entry Date Accounts Cro Records Inventory at 2020 for account Sofia 10 percent cathco 5135) in Focou Dec 31, 2000 Print Done Choose from any intor enter any number in the input fields and then click. Check Answer dalle want Reguva We provid.com What was the credit per correctement started understand
