Below is a record of the purchases and sales of inventory throughout the first four months: Units
Question:
Below is a record of the purchases and sales of inventory throughout the first four months:
Units | Cost/Price Per Unit | |
1/1/x7 Beginning Balance | 100 | $3.50 |
1/31/x7 Purchase | 125 | $4.00 |
2/15/x7 Purchase | 250 | $4.50 |
2/25/x7 Sale | 150 | $7.75 |
3/10/x7 Purchase | 300 | $5.00 |
3/31/x7 Purchase | 75 | $5.50 |
4/10/x7 Sale | 225 | $8.25 |
4/15/x7 Purchase | 100 | $6.00 |
4/30/x7 Sale | 350 | $8.50 |
Requirements:
- How many units were available for sale throughout the year?
- What was the total value of all goods available for sale throughout the year?
- How many physical units were sold?
- How many physical units are in ending inventory?
- What is the total sales value for all three sales?
Units | Price Per Unit | Total | |
2/25/x7 Sale |
|
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4/10/x7 Sale |
|
|
|
4/30/x7 Sale |
|
|
|
Total |
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|
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Each assignment must include a title page and reference page. Review the grading rubric to understand how you will be graded on this assignment. Review Module 4 Part 3 Lecture for examples related to your Critical Thinking assignment for this week. Reach out to your instructor if you have questions about the assignment.
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield