Question

Putte's Paradise cancies an invertory of putters and other por dute. The sale price of 90 putter is $128. Company records indicate me following for a particular line of Putte's Paradise putters Click the icon to view the recorde. Read the malements Requirement 1. Prepare Putter's Paradiset perpetual inventory record for the publes azurning Putter's Paradise ueee the weighed average inventory coeting method. Round weighted average cost per unit to the nearest cent and all other amounts to the necreet dolar. There identify the cost of ending inventory and cost of goods sold for the month. Slart by eating the beginning inventory bakances. Enter the transactions in chronological urder, calculating new inventory or hard balanceeafler wach war action. Once all of the transactions have been entered into the perpetual record, value the quantity and walcos. of inventory purchared, sold, and on hand at the end of the period. Purchases Requirements Unit Cost of Goods Sold Unit Total Quantity Cost Cost Data Table Total Cust Х Quantity Cost Inventory on Hand Unit Total Quantity Cost 19 BO 1520 5 80 400 Dale Apr1 Apr. 8 Ary Cost 14 80 1.120 Dale tam 50 91 4.550 56 1. Prepare Patter's Panodise's peractual inventory record for the putters Assuming Futara PATATINA LIAA the WG-AVATAGA Inventary coating method. Round weighted average cost per unt to the nearest cant and all other mounts to me nearest dollar. Then identify the cost of encing inwertery and coelof goods sold for the month 2. Joulaie Puller's Persise's inventory reactions using the weighted average inventory costing recesure purchases and sales are made an account.) Balance Sale Quantiry Unit Cost 19 S 80 14 Apr 17 Apr. 30 Anr. 1 Apr. 6 Apr. 6 Apr. 17 Apr. 30 Purchase 91 Totals SATA 50 Son 2 Determine the cost of ending inventory using the weighted average inventory costing method Print Done The cost of ancing inventory using the waighted-awanga Inventory conting methods Print Done Determine cost of goods sole using the weighted average inventory costing method. The coelof goods wold using the weighted averags inventory buslingredie Requirement 2. JoumAIZA Putter's Paradise's inventory transactions using the weighted-awaraga Inventary costing method [Assuma purchases and sales are made on asunt) Racord debit first, then credits Select the explanation on the last line of the journal entry table) Bagin by recording the entry to record the sale of the putters on account on the lith Date Accounts and Explanation Debit Credit Apra No racord the cost of the nuttera akd on the Date Accounts and Explanation Debit Credit ARY Choose from any list or enter any number in the input ficts and then continue to the next question

Answer 1

1.

	W. Avg	Purchases			Cost of Goods Sold			Ending Balance
Date	Activity	Units	Unit Price	Amount	Units	Unit Price	Amount	Units	Unit Price	Amount
1-Apr	Beginning Inventory							19	$              80.00	$              1,520
6-Apr	Sales				14	$              80.00	$              1,120	5	$              80.00	$                 400
8-Apr	Purchase	50	$         91.00	$            4,550				55	$              90.00	$              4,950
17-Apr	Sales				50	$              90.00	$              4,500	5	$              90.00	$                 450
30-Apr	Sales				2	$              90.00	$                 180	3	$              90.00	$                 270
	Total	50		$            4,550	66		$              5,800	3		$                 270

Cost of ending inventory = $270
Cost of Goods Sold = $5800

2.

Date	Account Titles	Debit	Credit
6-Apr	Accounts Receivable	$            1,792
	Sales Revenue		$         1,792
	Cost of Goods Sold	$            1,120
	Inventory		$         1,120
8-Apr	Inventory	$            4,550
	Accounts Payable		$         4,550
17-Apr	Accounts Receivable	$            6,400
	Sales Revenue		$         6,400
	Cost of Goods Sold	$            4,500
	Inventory		$         4,500
30-Apr	Accounts Receivable	$                256
	Sales Revenue		$             256
	Cost of Goods Sold	$                180
	Inventory		$             180

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