Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

SIXT Retinet Fost Help - . H 1 N 0 F O 5 T U V w Arw - VSA 15. FOAUF Perpetualno D D

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
SIXT Retinet Fost Help - . H 1 N 0 F O 5 T U V w Arw - VSA 15. FOAUF Perpetualno D D F FOTO Perry beeg syne wat onderne do Tract Un TOEN of Units Inver 2 $1.200 S7600 Purchasi 15 1.200 ta 49 2,000 30 Sale 30 2.000 10.000 My Puch SON 1200 45.600 50 20 10 SA 100.000 20 2010 20 Purch DO 10000 Jun 40 2,250 90,000 16 S 25 3,254 560 21 Pucha 36 TO 14300 2. Se 1 20 90.000 59.000 60008 09 10 000 021 and they were good perpetyder det med treh LOW Der the stal sales and total cost of gold for the period Joure the one the sales and cost of old some instant Determine the gross profor the period Determine the ending inventory 30 the Based on the preceding you sending very first her? Hepe - Forecard cost modern MID Instructions Answers are entered in the cells with gray backgrounds Cells with non-gray backgrounds are protected and cannot be edited. An asterisk () will anpear to the right of an incorrect entry. In part only final inventory cost. Column K will be grade 1. Purchases Unit Quantity Cost Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Date Apr 3 8 Inventory Unit Total Quantity Cost Cost 25 $1,200 $30,000 11 30 May 8 10 2 28 June 5 16 21 28 30 5-189 FARO LIFO JOURNAL Description Debit Credit #REFL HREFI BREFI #REFI HREFI HREF HREFI #REF! #REFI Gross profit for the sales period #REFI HREFI Ending inventory cost FREE! #REF! Inventory under LIFO would be PREF! 180 FIFO LIFO Instructions Answers are entered in the cells with gray backgrounds Cells with non-gray backgrounds are protected and cannot be edited. REF Purchases Unit Total Date Quantity Cost Cost Apr 3 8 Quarties Cost of Goods Sold Unit Total Quantity Cost Cost Inventory Unit Quantity Cost 25 $1,200 Total Cost $30,000 #REFI HREFI 11 2 B 9 0 1 2 23 24 25 30 May 8 HREFI #RER SREF HREFI 10 27 19 28 REF: HREFI #REFI REF June 5 16 21 FREFI #REFI HREFI REF: 35 23 BRABRERRRRSS3 30 Balance HRER BRER JOURNAL Description Debit Credit BRER REF MRER REF FO 2. JOURNAL Description Debit Credit Accounts Receivable Sales Cost of Goods Sold Inventory 3. Gross profit for the sales period Ending inventory cost 5. Inventory under LIFO would be 10 F r. 3 @a Arial B 1 U . FO&LIFO Perpetual Inventory B D E F G H J FO & UFO Perpetual Inventory me beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ate Transact Number Per Unit Total of Units Inventory 25 $1,200 $30,000 8 Purchase 75 1.240 93,000 11 Sale 40 2,000 80,000 30 Sale 30 2,000 60,000 8-May Purchase 60 1,260 75,600 10 Sale 50 2,000 100,000 19 Sale 20 2.000 40.000 28 Purchase 80 1,260 100,800 5-Jun Sale 40 2,250 90,000 16 Sale 25 2,250 56,250 21 Purchase 35 1,264 44,240 28 Sale 44 2.250 99,000 equired: - Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record - Determine the total sales and the total cost of goods sold for the period. Journalize the Determine the gross profit from sales for the period. . Determine the ending inventory cost on June 30. . Based upon the preceding data, would you expect the ending inventory using the last-1 5. Repeat the requirments from 1-5 using LIFO inventory system. Record the inventory, purcha SIXT Retinet Fost Help - . H 1 N 0 F O 5 T U V w Arw - VSA 15. FOAUF Perpetualno D D F FOTO Perry beeg syne wat onderne do Tract Un TOEN of Units Inver 2 $1.200 S7600 Purchasi 15 1.200 ta 49 2,000 30 Sale 30 2.000 10.000 My Puch SON 1200 45.600 50 20 10 SA 100.000 20 2010 20 Purch DO 10000 Jun 40 2,250 90,000 16 S 25 3,254 560 21 Pucha 36 TO 14300 2. Se 1 20 90.000 59.000 60008 09 10 000 021 and they were good perpetyder det med treh LOW Der the stal sales and total cost of gold for the period Joure the one the sales and cost of old some instant Determine the gross profor the period Determine the ending inventory 30 the Based on the preceding you sending very first her? Hepe - Forecard cost modern MID Instructions Answers are entered in the cells with gray backgrounds Cells with non-gray backgrounds are protected and cannot be edited. An asterisk () will anpear to the right of an incorrect entry. In part only final inventory cost. Column K will be grade 1. Purchases Unit Quantity Cost Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Date Apr 3 8 Inventory Unit Total Quantity Cost Cost 25 $1,200 $30,000 11 30 May 8 10 2 28 June 5 16 21 28 30 5-189 FARO LIFO JOURNAL Description Debit Credit #REFL HREFI BREFI #REFI HREFI HREF HREFI #REF! #REFI Gross profit for the sales period #REFI HREFI Ending inventory cost FREE! #REF! Inventory under LIFO would be PREF! 180 FIFO LIFO Instructions Answers are entered in the cells with gray backgrounds Cells with non-gray backgrounds are protected and cannot be edited. REF Purchases Unit Total Date Quantity Cost Cost Apr 3 8 Quarties Cost of Goods Sold Unit Total Quantity Cost Cost Inventory Unit Quantity Cost 25 $1,200 Total Cost $30,000 #REFI HREFI 11 2 B 9 0 1 2 23 24 25 30 May 8 HREFI #RER SREF HREFI 10 27 19 28 REF: HREFI #REFI REF June 5 16 21 FREFI #REFI HREFI REF: 35 23 BRABRERRRRSS3 30 Balance HRER BRER JOURNAL Description Debit Credit BRER REF MRER REF FO 2. JOURNAL Description Debit Credit Accounts Receivable Sales Cost of Goods Sold Inventory 3. Gross profit for the sales period Ending inventory cost 5. Inventory under LIFO would be 10 F r. 3 @a Arial B 1 U . FO&LIFO Perpetual Inventory B D E F G H J FO & UFO Perpetual Inventory me beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ate Transact Number Per Unit Total of Units Inventory 25 $1,200 $30,000 8 Purchase 75 1.240 93,000 11 Sale 40 2,000 80,000 30 Sale 30 2,000 60,000 8-May Purchase 60 1,260 75,600 10 Sale 50 2,000 100,000 19 Sale 20 2.000 40.000 28 Purchase 80 1,260 100,800 5-Jun Sale 40 2,250 90,000 16 Sale 25 2,250 56,250 21 Purchase 35 1,264 44,240 28 Sale 44 2.250 99,000 equired: - Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record - Determine the total sales and the total cost of goods sold for the period. Journalize the Determine the gross profit from sales for the period. . Determine the ending inventory cost on June 30. . Based upon the preceding data, would you expect the ending inventory using the last-1 5. Repeat the requirments from 1-5 using LIFO inventory system. Record the inventory, purcha

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Non-Accounting Students

Authors: John R. Dyson, Ellie Franklin

9th Edition

978-1292128979, 1292128976

More Books

Students also viewed these Accounting questions

Question

Define critical thinking and list its seven standards.

Answered: 1 week ago