uestion Completion Status: Test 2 problem 3.docx The following information is available from Jones, Inc.'s inventory record for Product X: Units Unit Cost January 1, 2020 (beginning inventory) 2,400 $18.00 Purchases: January 5, 2020 3,900 $20.00 January 25, 2020 3,500 $21.00 February 16, 2020 1,500 $22.00 March 15, 2020 2.700 $23.00 A physical inventory on March 31, 2020, shows 3,000 units on hand. Using the attached template, compute and show the following: The value of the ending inventory and the cost of goods sold under the FIFO method The value of the ending inventory and the cost of goods sold under the UFO method The value of the ending inventory and the cost of goods sold under the average cost method Attach File Browse Local Files Browse Content Collection Click Save and Submit to save and submit. Click Save All Answers to save all answers. B uestion Completion Status: QUESTION 2 Test 2 problem 2 journal paper and Taccount.docx Using the attached template, prepare journal entries to record the following transactions assuming the company uses a perpetual inventory system. Omit explanations On October 1. Taylor Bicycle Store had an inventory of 20 ten speed bicycles at a cost of $200 each. During the month of October, the following transactions occurred: Oct. 4 Purchased 40 bicycles at a total cost of $8,000 from Mann Bicycle Company, terms 2/10, V30. 6 Sold 18 bicycles to Team America for $5,400, terms 2/10, 1/30. The cost of the bicycles was $3,600. 8 Received a $600 credit from Mann Bicycle Company for the return of 3 defective bicycles. 13 Issued a $300 credit memo to Team America for the return of a bicycle The bicycle is in usable condition and will be returned to stock. The cost of the returned bicycle is $200 14 Paid Mann Bicycle Company the total amount owed after the return and any discount allowed. 15 Sold 10 bicycles to Cyclists of Ohio for $3,000, terms 1/10. n/30. The cost of the bicycles was $2,000 25 Received payment in full, less any applicable discount, from Cyclists of Ohio 29 Received payment in full, less any applicable discount, from Team America Using the Taccount form on the attached template, enter Taylor's inventory balance at the beginning of October and the October transactions that affect this account. Calculate and show the balance at the end of October Attach File browse Local Files Browse Content Collection Click Save and Subotto sabe and submit. Click Save All Ansten to all answers Save As Arswers 9. el 8