The Rogers Lamp Company (RLC) is a wholesale company that purchases lamps from the manufacturer and resells them to retail stores. The company has three inventory tema: desk lamps, table lamps, and floor lamps. RLC uses a perpetual inventory system, FIFO method. RLC owns land with a building, which is separated into two parts office space and warehouse space. All expenses associated with the office are categorized as Administrative Expenses. Al expenses associated with the warehouse, which is used for the shipping and receiving functions of the company, are categorized as Selling Expenses. In addition to the land and building, RLC also owns office fumiture and equipment and warehouse fixtures. The company uses one accumulated depreciation account for all the depreciable asses The bial belance for FC as of September 30, 2024 allows (Click the icon to view the trial balance) Merchandise inventory as of September 30 consists of the blowing lampe (Click the loon to view the Meshandise Inventory) During the fourth quarter of 2024, RLC completed the following o (Click the loon to view the to 18, and Dec. 27. For the year ended December 31, 2024, a physical inventory account resulted in the flowing courts desk lamps, 87% table lamps, 4,482, and floor lamps, 12,500 Update the inventory records Begin with the inventory record for desk lamps. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactione have been entered in the perpetual record the quantly and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. Enter the oldest inventory layers fit) Desk lamps Purchases Unit Cost of Goods Sold Total Unit Total Inventory on Hand Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cust Cost Sep. 30 Ol 1 15 Nov 1 15 Etext pages Calculator Ask my instructor Clear all Check answer Rogers Lamp Company Trial Balance September 30, 2024 Balance consists of Inventory.) pleted the fi Account Debit Credit Cash 436,000 2,500. Upda Accounts Receivable 0 transactions Merchandise Inventory 143,300 Office Supplies 410 Warehouse Supplies 450 Land 10,000 Building 680,000 Office Furniture and Equipment 130,000 Warehouse Fixtures 350,000 Accumulated Depreciation $ 232,000 0 Accounts Payable Common Stock Retained Earnings Dividends 50,000 326,300 O Print Done Building 680,000 Co Ir Office Furniture and Equipment 130,000 ple Warehouse Fixtures 350,000 Accumulated Depreciation $ 232,000 Accounts Payable Common Stock Retained Earnings Dividends 0 50,000 326,300 2,5 0 e tra 2,665,260 a Sales Revenue G Cost of Goods Sold 1,093,400 Salaries Expense-Selling 293,000 C Utilities Expense-Selling 28,000 Supplies Expense-Selling Depreciation Expense-Selling 0 Salaries Expense-Administrative 89,000 20,000 Utilities Expense-Administrative Supplies Expense-Administrative 0 Depreciation Expense-Administrative $ 3,273,560 $ 3,273,560 Total Data table Item Quantity Unit Cost Total Cost Desk Lamp 2,800 $ 11 $ 30,800 Table Lamp 2,500 14 35,000 Floor Lamp 2,500 77,500 31 $ 143,300 Total Print Done - X mps of t Oct. 1 Oct. 12 Oct. 15 Oct. 20 Oct. 23 Oct. 28 Purchased lamps on account from Carpathian Lights, terms n/30, FOB destination: 6,000 desk lamps at $10 each 5,000 table lamps at $16 each 4,500 floor lamps at $30 each Sold lamps on account to Harmony Home Furnishings, terms 3/10, n/30: 4,200 table lamps at $50 each Sold lamps on account to Kennesaw Office Supply, terms 1/10, n/30: 700 desk lamps at $15 each Received a check from Harmony Home Furnishings for full amount owed on Oct. 12 sale. Received a check from Kennesaw Office Supply for full amount owed on Oct. 15 sale. Sold lamps on account to Pike Home Stores, terms 2/10, n/30: 800 table lamps at $50 each 1,400 floor lamps at $61 each Oct. 30 Paid amount due to Carpathian Lights from Oct. 1 purchase. Oct. 31 Oct. 31 Paid salaries, $44,000 (65% selling, 35% administrative). Paid utilities, $2,400 (60% selling, 40% administrative). Nov. 1 Nov. 5 Sold lamps on account to Kennesaw Office Supply, terms 2/10, n/30: 4,800 desk lamps at $15 each Purchased lamps on account from Carpathian Lights, terms n/30, FOB destination: 6.000.desk lamps at $12 each. Nov. 5 4,800 desk lamps at $15 each Purchased lamps on account from Carpathian Lights, terms n/30, FOB destination: 6,000 desk lamps at $12 each 7,500 table lamps at $18 each 9,000 floor lamps at $32 each Nov. 5 Received a check from Pike Home Stores for full amount owed on Oct. 28 sale. Nov. 8 Nov. 10 Nov. 15 Nov. 18 Nov. 28 Received a check from Kennesaw Office Supply for full amount owed on Nov. 1 sale. Purchased and paid for supplies: $420 for the office; $575 for the warehouse. Sold lamps on account to Stewart Office Supply, n/30: 1,700 desk lamps at $15 each Sold lamps on account to Market Discount Stores, terms 3/10, n/30: 1,700 table lamps at $50 each 2,100 floor lamps at $61 each Received a check from Market Discount Stores for full amount owed on Nov. 18 sale. Paid salaries, $44,000 (65% selling, 35% administrative). Nov. 30 Nov. 30 Paid utilities, $2,480 (60% selling, 40% administrative). Dec. 5 Dec. 15 Paid amount due to Carpathian Lights from Nov. 5 purchase. Dec. 15 Received a check from Stewart Office Supply for full amount owed on Nov. 15 sale. Paid dividends, $55,000. Nov. 5 Nov. 8 Nov. 10 Nov. 15 Nov. 18 Nov. 28 Received a check from Pike Home Stores for full amount owed on Oct. 28 sale. Received a check from Kennesaw Office Supply for full amount owed on Nov. 1 sale. Purchased and paid for supplies: $420 for the office; $575 for the warehouse. Sold lamps on account to Stewart Office Supply, n/30: 1,700 desk lamps at $15 each Sold lamps on account to Market Discount Stores, terms 3/10, n/30: 1,700 table lamps at $50 each 2,100 floor lamps at $61 each Received a check from Market Discount Stores for full amount owed on Nov. 18 sale. Paid salaries, $44,000 (65% selling, 35% administrative). Nov. 30 Nov. 30 Paid utilities, $2,480 (60% selling, 40% administrative). Dec. 5 Dec. 15 Dec. 15 Paid amount due to Carpathian Lights from Nov. 5 purchase. Dec. 27 Dec. 31 Dec. 31 Received a check from Stewart Office Supply for full amount owed on Nov. 15 sale. Paid dividends, $55,000. Sold lamps on account to Harmony Home Furnishings, terms 1/10, n/30: 6,600 desk lamps at $15 each 3,800 table lamps at $50 each Paid salaries, $44,000 (65% selling, 35% administrative). Paid utilities, $3,700 (60% selling, 40% administrative)