London Company who use a periodic inventory system sold 600 units of inventory in April. In...
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London Company who use a periodic inventory system sold 600 units of inventory in April. In addition, the llowing information is available (2 pts) 1. $( April 1 Inventory April 15 purchase April 23 purchase Determine the ending inventory and cost of goods sold during the period using the FIFO method and the LIFO method. Please properly use "comma" in numbers (numeric values) as follows: 6,000, 1,234,567 etc. FIFO LIFO Ending Inventory 5[1] ) 2. S( 250 units of $10 400 units $12 350 units $13 1,000 units CGS [2] Cash balance per Bank Add Less Adjusted cash balance per Bank Cash balance per Book Add Less Adjusted cash balance per Book ) P4. The following information pertains to Cullumber Company (5pts.). 1. Cash balance per books, August 31, $7,374. 2. Cash balance per bank, August 31, $7,338. Ending Inventory $131 3. $( 3. Outstanding checks, August 31, $690. 4. August bank service charge not recorded by the depositor $42. 5. Deposits in transit, August 31, $2,810. $2,500 4,800 4,550 $11,850 CULLUMBER COMPANY Bank Reconciliation August 31, 2025 CGS $(4) In addition, $2,126 was collected for Cullumber Company in August by the bank through electronic funds transfer. The collection has not been recorded by Cullumber Company. (a) Prepare a bank reconciliation at August 31, 2025 4.5( > S55 $7,338 $( $( retur $7,374 $( London Company who use a periodic inventory system sold 600 units of inventory in April. In addition, the llowing information is available (2 pts) 1. $( April 1 Inventory April 15 purchase April 23 purchase Determine the ending inventory and cost of goods sold during the period using the FIFO method and the LIFO method. Please properly use "comma" in numbers (numeric values) as follows: 6,000, 1,234,567 etc. FIFO LIFO Ending Inventory 5[1] ) 2. S( 250 units of $10 400 units $12 350 units $13 1,000 units CGS [2] Cash balance per Bank Add Less Adjusted cash balance per Bank Cash balance per Book Add Less Adjusted cash balance per Book ) P4. The following information pertains to Cullumber Company (5pts.). 1. Cash balance per books, August 31, $7,374. 2. Cash balance per bank, August 31, $7,338. Ending Inventory $131 3. $( 3. Outstanding checks, August 31, $690. 4. August bank service charge not recorded by the depositor $42. 5. Deposits in transit, August 31, $2,810. $2,500 4,800 4,550 $11,850 CULLUMBER COMPANY Bank Reconciliation August 31, 2025 CGS $(4) In addition, $2,126 was collected for Cullumber Company in August by the bank through electronic funds transfer. The collection has not been recorded by Cullumber Company. (a) Prepare a bank reconciliation at August 31, 2025 4.5( > S55 $7,338 $( $( retur $7,374 $(
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Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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