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The Dylex Corporation company has the following purchases and sales during the year ended December 31, 2014. Inventory and Purchases Beginning 300 units 571/unt March
The Dylex Corporation company has the following purchases and sales during the year ended December 31, 2014. Inventory and Purchases Beginning 300 units 571/unt March 26 200 units @566/unit October 19 100 units @ $61/unit Sales September 19 200 units December 17 300 units The units have a selling price of $90.00 per unit a) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit earned by Dylex Corporation using the FIFO system FIFO Gest of Goods Sole Ending inventory Cross Prote bi Prepare journal entries to record the following (assuming all sales and purchases are for cash) (a) The purchase on March 26, (b) The sale on December 17 Enter the transaction letter as the description when preparing a journal entry When a transaction requires two separate journal entries, use the same letter for both descriptions Datos must be entered in the format ddimmm pe 15Jan) General Journal Account Explanation Page GJ E Debt Credit
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