need help finding the remaining cogs and ending inventory .
need help finding the remaining cogs and ending inventory . Date Description 217 Indiana buys $3,000...
I need help from 4/1 to 12/31. first on making transactions and second with the balance sheet. some necessary info:Lao Che Industries $15,000(current), temple of doom co $5,500(90 days past due), Asp Co $10,000(current), ark of covenant inc $11,500(current). company common stock $2.50 par value. 100,000 shares authorized. Date Description 217 Indiana buys $3,000 of office supplies in cash. 2/15 Indiana pays off $30,000 of accounts payable. 2/18 Indiana collects the amount owed from Bellog, Inc from the 1/19 sale...
need help making transactions. terms for assets: cash, short term investments, A/R, allowance for doubtful Acc, interest receivable, merchandise inventory, office supplies, prepaid insurance, land, building, Accumulated building, intangible asset. terms for liabilities: A/P, salaries payable, income tax payable, interest payable, unearned revenue, dividends payable, notes payable terms for equity: common stock, additional paid in capital, retained earnings terms for revenues: sales revenue, sales discount, sales allowance, service revenue, interest income terms for expenses: COGS, salaries expense, advertising expense, office...
Please read the bottom before starting. Debit and credit each transaction: 1/1 beginning balances ⅛ Indiana pays off the beginning salaries payable balance 1/12 Indiana buys 1,000 units of inventory at a per-unit cost of $16 on account, terms net/60 1/19 inian pays off the beginning income taxes payable balance 1/21 indian sells 1,100 units to Sallah co. for $85 each on credit, terms 2/15, net/45 1/31 indiana pays off $30,000 of the beginning accounts payable balance 2/7 indiana pays...
Required information Problem 6-2A Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (L06-3, 6-4,6-5) [The following information applies to the questions displayed below.) Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system. Units Unit Cost $ 245 Total Cost $ 4,900 20 15 10 265 Date March 1 March 5 March 9 March 17...
Inventory Date Activity Units Unit Cost Balance 1-Mar Beginning Balance 250 $14 $3,500 3-Mar Sale (200) - - 0 10-Mar Purchase 200 15 ...
Use the following data for #5-12: Inventory information is presented below. Please calculate the ending inventory, cost of goods sold, and gross profit for each of the six inventory methods below and answer the questions. Round answers to the nearest dollar. 4/1 - Beginning inventory - 12 units at $22 cost 4/10 - Purchase - 22 units at $23 cost 4/15 - Sale - 26 units ($30 sales price) 4/20 - Purchase - 27 units at $24 cost 4/25 -...
Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of goods sold for the month of November of Beamer Company using the data below. Nov. $80 each 1 Purchased 4 Sold 11 Purchased 12 Sold 22 Purchased 23 Sold 600 units 200 units 350 units 275 units 175 units 155 units $82 each $84 each 1. Calculate the inventory valuation at the end of November 2. Calculate the cost of goods sold for...
Knowledge Check 01 The inventory transactions of VTS Corporation are shown below. Date Transaction Number of Units Unit Cost/Price Jan. 1 Beginning inventory 500 $ 10 Feb. 25 Sale 300 20 May 21 Purchase 400 12 Jul. 15 Purchase 500 15 Dec. 10 Sale 800 20 All purchase/sale transactions are made on credit. The company uses the FIFO method and the perpetual inventory system to record transactions. The entry to record the transaction on December 10 will involve a debit...
I also need the ending inventory and costs of goods sold for periodic LIFO and periodic weighted average - Thank you! в D E F G H I J K L M N O P Calculate cost of ending inventory and cost of goods sold using periodic FIFO, LIFO and Weighted Average Cost methods. Make use of Excel capabilities by using as many formulas and functions as possible. Better Bottles, Inc. uses a periodic inventory system and has the following...
calculate cost of the ending inventory and the cost of goods sold for eaxh cost flow assumption, using a perpectual inventory system. Assume a sale of 393 units occurred on June 15 for a selling price of $9 and a sale of 51units on June 27 for $10. Exercise 6-14 Sage Hill Inc. reports the following for the month of June. Unit Cost Date June 1 12 Units 114 Explanation Inventory Purchases Purchases Inventory 359 Total Cost $570 2,154 1,358...