Question

just the last journal and part b

The following inventory transactions apply to Green Company for Year 2: Jan. 1 Apr. 1 Aug. 1 Dec. 1 Purchased Sold Purchased Sold 260 unitse $ 9 130 units @ $ 18 440 units @ $ 10 550 units @ $ 19 The beginning inventory consisted of 195 units at $10 per unit. All transactions are cash transactions. Required a. Record these transactions in general Journal format assuming Green uses the FIFO cost flow assumption and keeps perpetual records. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet

Answer 1

No Date General Journal Debit Credit i $ 2,340 Jan-01 Inventory Cash $ 2,340 2 $ 2,340 Apr-01 Cash Sales Revenue $ 2,340 3 $ 1,300 Apr-01 Cost of Goods Sold Inventory $ 1,300 $ 4,400 Aug-01 Inventory Cash $ 4,400 5 $ 10,450 Dec-01 Cash Sales Revenue $ 10,450 6 $ 5,240 Dec-01 Cost of Goods Sold Inventory $ 5,240

Cost of Goods Sold $6,540 Cost of Goods Sold = $ 1300 +$ 650 + $ 2340+ $ 2250= $ 6,540

Goods Purchased Perpectual FIFO Cost of Goods Sold # of Cost of Units Cost per Goods Unit Sold Sold Date # of Units Cost per Unit Jan-01 Jan-01 260S 9.00 Inventry Balance #ofa Cost Inventory Units per Unit Balance Sold 195 $ 10.00 S 1,950 195 S 10.00 S 1,950 260 S 9.00 S 2,340 65 S 10.00 S 650 260 S 9.00 S 2,340 65 S 10.00 S 650 260 S 9.00 S 2,340 440 S 10.00 S 4,400 Apr-01 130 S 10.00 $ 1,300 Aug-01 440 S 10.00 Dec-01 65 260 225 S 10.00 S 9.00 $ 10.00 S 650 - 2,340 $2,250 215 | $ 10.00 S 2,150