merchandising and inventory

Project Description:

max sells gourmet dog bones in his store which he buys in boxes for resale to dog bone dealers around the state. he started the month with 80 boxes with a total cost of $2,400. during the he made the following transactions:
• purchased 130 boxes at a cost of $35 per box
• sold 190 boxes at $60 each
• purchased 120 boxes at a cost of $40 per box
• sold 130 boxes at $70 per box

max uses a lifo cost and a perpetual inventory method in his business. during the month, max incurred operating expenses of $3,000.

using the excel worksheet provided, complete the following:
1. using the information from the 4 transactions given, complete the perpetual inventory sheet on tab 1.
2. complete the required journal entries for each of the 4 transactions on tab 2.
3. complete a multi-step income statement from the above information on tab 3.
Skills Required:
Project Stats:

Price Type: Fixed

Project Budget: $0 to $10
Total Proposals: 1
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