Saskatoon Supermarket Company sells bicycle accessories. For one of the products, safety reflectors, they have the...
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Saskatoon Supermarket Company sells bicycle accessories. For one of the products, safety reflectors, they have the following inventory transactions. For the month of April, what would be the Cost of Goods Sold and ending balance of Merchandise Inventory under the first-in, first-out method. Assuming the perpetual method, show a proper inventory schedule. Show all your work. (5 marks) Apr Apr Apr Apr Apr Apr Apr Apr Apr Date: Transaction 1 Opening balance 2 Purchase 3 Purchase 4 Sale 5 Purchase 6 Purchase 30 Ending Units Cost/Unit 38 $ 11 $ 41 $ 82 15 $ 22 $ 2.62 2.88 3.02 3.41 3.54 Units remaining 3 1 4 1 ??? Saskatoon Supermarket Company sells bicycle accessories. For one of the products, safety reflectors, they have the following inventory transactions. For the month of April, what would be the Cost of Goods Sold and ending balance of Merchandise Inventory under the first-in, first-out method. Assuming the perpetual method, show a proper inventory schedule. Show all your work. (5 marks) Apr Apr Apr Apr Apr Apr Apr Apr Apr Date: Transaction 1 Opening balance 2 Purchase 3 Purchase 4 Sale 5 Purchase 6 Purchase 30 Ending Units Cost/Unit 38 $ 11 $ 41 $ 82 15 $ 22 $ 2.62 2.88 3.02 3.41 3.54 Units remaining 3 1 4 1 ???
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Based on the given information heres the inventory schedule and calculation of Cost of Goods Sold COGS and ending balance of Merchandise Inventory for ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Posted Date:
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