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The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period ending March 31, 2016, are as follows: Jan.
The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period ending March 31, 2016, are as follows:
can an accountant tutor help me with the journal in the bottom please.
Solution
Jan. | 1 | Inventory | 2,500 | $70.00 | $175,000 |
10 | Purchase | 8,000 | 78.00 | 624,000 | |
28 | Sale | 3,800 | 140.00 | 532,000 | |
30 | Sale | 1,250 | 140.00 | 175,000 | |
Feb. | 5 | Sale | 500 | 140.00 | 70,000 |
10 | Purchase | 17,000 | 80.00 | 1,360,000 | |
16 | Sale | 9,100 | 145.00 | 1,319,500 | |
28 | Sale | 8,700 | 145.00 | 1,261,500 | |
Mar. | 5 | Purchase | 14,300 | 81.60 | 1,166,880 |
14 | Sale | 9,800 | 145.00 | 1,421,000 | |
25 | Purchase | 3,000 | 82.00 | 246,000 | |
30 | Sale | 7,900 | 145.00 | 1,145,500 |
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