this is how it supposed to be
Problem 1 Required Beginning inventory, purchases and sales data for baseball bats are as follows: Apr 3 Inventory 12 units 13 units 11 18 units 14 21 25 Purchase Sales Purchase Sales 9 units $60 10 units Assuming the business maintains a periodic inventory system calculate total sales, the cost of merchandise sold and gross profit under the First-in, first-out method: (10 points) Sales Cost of Goods Sold Gross Profit $25 Beginning inventory, purchases and sales data for baseball bats are as follows Apr 3 Inventory 12 units Purchase 13 units Sales 18 units $27 540V Purchase 9 units $30 Sales 10 units $45 Assuming the business maintains a periodic inventory system, calculate total sales, the cost of merchandise sold and gross profit under the Last-in, first-out method: (10 points) Sales Cost of Goods Sold Gross Profit $15,177.30 SHAMARA SYSTEMS Bank Reconciliation May 31, 2017 Bank statement balance.............. $21,76270 Book balance ................ Add Add Deposit of May 31............ 2727.30 Proceeds of note less 24,490.00 $50 fee..... 7,350.00 22,527.30 Deduct Checks No. 1780......$1,425.90 1786...... 353.10 1789... 639.50 Adjusted bank balance ................. Deduct NSF check......... $431.80 Service charge... 14.00 2418.50 Errar (Ck 1788) --_10.00 $22,071,50 Adjusted book balance..... 456.80 $22,071.50 Part 2 May 31 To record note collection less fee. O Checks No. 1780.....$1,425.90 1786...... 353.10 1789... 639.50 Adjusted bank balance ............. NSF check........ $431.80 Service charge... 14.00 2,418.50 Errar (Ck 1788)... 10.00 $22,071,50 Adjusted book balance...... 455.80 $22,071,50 Laurence Pe Part 2 7,350.00 50.00 7,400.00 Zachary Wh May 31 Cash .. Collection Expense. Notes Receivable To record note collection less fee. 31 Accounts Receivable-W. Sox. Cash To charge account for NSF check plus fee. 431.80 431.80 14.00 Lee Brown 31 Service Charge Expense... Cash To record bank service fee. 14.00 10.00 31 Utilities Expense.... Cash ..... To correct an entry error. 10.00 Mireya Torrez IGHTIB 1009