View Policies Current Attempt in Progress Cheyenne Corporation opened a new store on January 1, 2021. During 2021, the first year of operations, the following and sales of inventory were made: Sales Units Date Jan. 5 Purchases Units Cost per unit 11 $1,000 11 1.220 16 1,370 21 1,540 Date July 4 Dec. 29 14 Price per unit $2,100 2.100 June 11 34 Oct. 18 Dec. 20 Calculate the cost of goods available for sale and the number of units of ending inventory. Cost of goods available for sale Number of units of ending inventory units e Textbook and Media eter 6 Assignment Question 5 of 6 -12 Assume Cheyenne uses weighted average periodic. Calculate the cost of ending inventory.cost of the goods sold, and gross profit (Round the weighted average cost per unit to two decimal places, eg. 5275 and final answers to decimal places, eg. 5,275.) Ending Inventory $ Cost of goods sold $ Gross profit $ e Textbook and Media List of Accounts Assume Cheyenne uses weighted average perpetual Calculate the cost of ending inventory, cost of the goods sold, and gross profit. (Round the weighted average cost per unit to two decimal places, e.g. 52.75 and final answers to decimal places, eg. 5,275) Ending inventory $ List of Accounts Assume Cheyenne uses weighted average perpetual Calculate the cost of ending inventory, cost of the goods sold, and gross profit. (Round the welghted average cost per unit to two decimal places, eg. 52.75 and final answers to decimal places, eg. 5,275.) Ending inventory Cost of goods sold Gross profit $ $ $ e Textbook and Media List of Accounts Prepare journal entries to record the December 20 purchase and the December 29 sale using (1) weighted average periodic and (2) weighted average perpetual. Assume both the sale and purchase were for cash. (Round final answers to decimal places, eg, 5,275. If no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically Questi 5 OT 6 -12 III Prepare journal entries to record the December 20 purchase and the December 29 sale using (1) weighted average periodic and (2) weighted average perpetual. Assume both the sale and purchase were for cash. (Round final answers to decimal places, es 5,275. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically Indented when the amount is entered. Do not Indent manually:) (1) Weighted Average periodic Debit Credit Date Account Titles and Explanation Dec. 20 1 (To record cash purchase.) Dec. 29 (To record cash sale.) (2) Weighted Average perpetual Date Account Titles and Explanation Debit Credit Dec. 20 Question 5 of 6 (2) Weighted Average perpetual Date Account Titles and Explanation Debit Dec. 20 Credit (To record cash purchase.) Dec. 29 I (To record cash sales.) Dec. 29 (To record cost of goods sold.) e Textbook and Media List of Accounts
