Winnie Warehouse distributes musical instruments to retail stores and extends credit terms of 3/10, n/30 to all of its customers. During the month of August 2020, the following merchandising transactions occurred:

8/1		Purchased acoustic guitars on account for $10,400 (including freight) from Newman Music, terms 1/10, n/45.
8/3		Sold electric guitars on account to Zeppelin Rocks Music for $12,200. The cost of the merchandise sold was $9,500.
8/6		Received $2,000 credit for acoustic guitars returned to Newman Music.
8/9		Paid balance owed to Newman Music.
8/15		Received payment in full from Zeppelin Rocks Music.
8/17		Sold guitar amps on account to Metallica Music for $5,500. The cost of the merchandise sold was $3,500.
8/20		Purchased drum kits on account for $14,000 from Bonzo Drum Machines, terms 1/15, n/30.
8/24		Received payment in full from Metallica Rocks Music.
8/26		Paid Bonzo Drum Machines in full.
8/28		Sold drum kits on account to Phil Rudd Music for $4,000. The cost of the merchandise sold was $1,800.
8/31		Granted Phil Rudd Music $400 credit for a drum kit returned costing $120.

Instructions:

Journalize the transactions for the month of August for Winnie Warehouse, using a perpetual inventory system (meaning, inventory is updated upon each sale transaction).

Question 3 Chapter 6, Learning Objective 2

Go Birds, Inc. is a retailer operating in Philadelphia. Go Birds uses the perpetual inventory method. Assume that there are no credit transactions and all amounts are settled in cash.

You are provided with the following information for Go Birds for the month of March 2021:

Date		Description		Quantity		Unit Cost / Selling Price
Feb. 28		Ending inventory		160		$20
Mar. 2		Purchase		160		24
Mar. 6		Sale		190		40
Mar. 9		Purchase		65		26
Mar. 10		Sale		60		44
Mar. 23		Purchase		120		29
Mar. 30		Sale		140		49

Instructions:

For each of the following cost flow assumptions, calculate (ii) cost of goods sold for the month of March 2021, (ii) ending inventory at March 31, 2021, and (iii) gross profit for the month of March 2021.

1. LIFO

2. FIFO

3. Moving-average (i.e., average cost/weighted average). Round cost per unit to two decimal places.

show me the work? I'm not super about this