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Show the steps for calculating each number,Thanks Tamworth Trading Ltd is a company operating in the retail sector. The beginning inventory of Product EF5089 and
Show the steps for calculating each number,Thanks
Tamworth Trading Ltd is a company operating in the retail sector. The beginning inventory of Product EF5089 and Information about purchases and sales made during June are shown below. June 1 Inventory 4,510 units $1.90 4 Purchases 3,400 units $1.85 9 Sales 3,030 units 12 Purchases 3,030 units $2.00 21 Sales 2,290 units 24 Salas 2,150 units 26 Purchases 2,290 units $2.20 30 Sales 1,920 units Tamworth Trading Ltd uses the perpetual Inventory system, and all purchases and sales are on credit. Selling price is $5 per unit. GST IS 10% and is not included in any of the costs and selling prices above. A stocktake on 30 June revealed 3,810 units in Inventory, A. Using the FIFO method, prepare appropriate purchases and sales journals to record these events. (Round per unit cost to 2 decimal places, e.g. 5.27 and final answers to decimal places, e.g. 5,275.) Purchases Sales Balance Date Explanation Unit Unit cost Total cost Unit Unit cost Total cost Unit Unit cost Total cost 1/6 Balance 4510 1.9 9569 4/6 Purchases 3400 1.85 6290 $ 9/6 Sales 12/5 Purchases 21/6 Sales 24/6 Sales 26/6 Purchases 30/6 Sales 30/6 Missing InventoryStep by Step Solution
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