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The Oppong Corporation company has the following purchases and sales during the year ended December 31, 2014 Inventory and Purchases Sales Specific Units Sold Beginning

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The Oppong Corporation company has the following purchases and sales during the year ended December 31, 2014 Inventory and Purchases Sales Specific Units Sold Beginning 300 units @ $83/unit May 22 100 units May 22 40 units from being inventory January 23 200 units @ 577 December 28 300 units 60 units from the January 23 purchase June 23 100 units @ 571/unit December 28 110 units from beginning inventory 100 units from the January 23 purchase 90 units from the June 23 purchase The units have a selling price of $105.00 per unit a) Given that Oppong Corporation employs a perpetual inventory system, calculate the cost of goods available for sale and the number of units available for sale, as well as the unit remaining in ending inventory Cost of goods available for sale Units available for sale Units remaining in ending inventory b) Please to in the table by calculating the dollar value of cost of goods sold und ending inventory, as well as the press proft earned by Oppong Corporation using the specie dichten system Specific Identification Cost of Goods Sold Ending Inventory Gross Pro c) Prepare journal entries to record the following assuming all sales and purchases are for cash (a) The purchase on January 23. The sale on December 20 Enter the transaction offer as the description when prepanng a journal entity. When a transaction requires two separate oumalotras use the same for both description Dates must be entered in the format dd mmm le 15/Jan)

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