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Homework: Accounting Project (401-F2021) Question 6, Exercise 6-2... Part 2 of 5 HW Score: 73.65%, 58.92 of 80 points Points: 3.08 of 20 Save Outdoor Adventure Company is a service-based company that rents canoes for use on local lakes and rivers during 2020. In addition to rental services, at the beginning of January 2021, Outdoor Adventure Company decided to carry and T-shirts with its logo printed on them. Outdoor Adventure Company uses the perpetual inventory system to account for the inventory. During February 2021, Outdoor Adventure Company completed the following merchandising transactions (Click the icon to view the transactions.) Required Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost X Transactions . . . . . Feb. 1 50 780 130 50 650 Feb. 2 Sold 10 T-shirts at $21 each. 900 50 650 5 Purchased 60 T-shirts at $15 each. 900 7 Sold 55 T-shirts for $21 each. 8 Sold 40 T-shirts for $21 each. 650 325 10 Outdoor Adventure Company realized the inventory was running low, LO so it placed a rush order and purchased 60 T-shirts. The premium cost for these shirts was $16 each. LO 600 225 CO 12 Placed a second rush order and purchased 65 T-shirts at $16 each. 225 4 960 13 Sold 60 T-shirts for $21 each. 960 15 Purchased 60 T-shirts for $15 each. 20 In order to avoid future rush orders, purchased 120 T-shirts. Due to 1040 960 N the volume of the order, Outdoor Adventure Company was able to 48 1040 negotiate a cost of $13 each. 21 Sold 75 T-shirts for $21 each. 60 960 1040 22 Sold 50 T-shirts for $21 each. 24 Sold 5 T-shirts for $21 each. 25 Sold 40 T-shirts for $21 each. LO 900 27 Sold 10 T-shirts for $21 each. Print Done