show working
Styles 1) Eustace Esdaille Corp, merchandisers of impelloes for pumps, has provided the following details about operations. Nov.5 Inventory purchased on account Nov. 8 Paid Freight Nov. 13 Purchase returns Nov. 14 Allowances by vendor Nov. 20 Payment made to vender for purchases on Nov.5 5600,000 10 000 60.000 15 000 Credit terms are: 4/20, 1/45, FOB shipping point. Provide joumal entries and calculate the net cost of inventory purchased assuming that there are no other inventory-related transactions during the month. Assume that the perpetual inventory system is used (20p) Date Accounts Debit Credit 2) Rabatt Motors Equipment uses a perpetual inventory system. Journalize the following sales transactions for this company. Explanations are not required. (20pts). Sold $60,000 of merchandise on account, credit terms are 3/10, 1/30, FOB Nov 18 destination Cost of goods is $30,000 Nov. 22 Jackson negotiated a $5,000 allowance on the goods sold on Nov. 18. Nov 24 Jackson paid freight of $500 Jackson receives payment for the customer for the amount due from the Nov. 30 Nov 18 sale Date Accounts Debit Credit f Facebook Jose Ann Chapman send somebody do for me 3) Journalize the following purchase transactions for Dore-Terrell Corp. using the periodic inventory system Explanations are not required. (20pts) Nov. 2 Nov. 6 Novs Nov. 12 Purchased $10,042 of merchandise inventory on account under terms 4/10,n/30 and FOB shipping point Retumed $1,000 of defective merchandise purchased on Nov 2 Paid freight bill of $400 on Nov. 2 purchase Paid amount owed on credit purchase on Nov. 2 Date Accounts Debit Credit 4) Samuel's Mariafacturing (SM) began October with merchandise inventory of 60 chairs that cost a total of 543,500 During the month, SM purchased and sold merchandise on account as follows: Oct Purchase 1Sale 15 Purchase 27Sale 30 chairs $750 each 40 chairs 1,200 each 50 chairs $775 each 45 chairs $1.200 each Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold (COGS), and ending merchandise inventory (20p) Date Cost Purchase Number Cost of Goods Sold Cost Number Total Inventory On Hand Cost Number Total Total 5) Refer to problem #14 above, what is the companies COGS and Gross Profit use periodic UFO costing? (20pts)