Question: I have completed the table in question A. Using the values in my table, i am unsure if my inventory adjustment journal is for the

I have completed the table in question A.

Using the values in my table, i am unsure if my inventory adjustment journal is for the difference in balance? highlighed in blue.

(a] Complete the-stock-card-using-the-Weighted Average-Cost-method. 1 Stewart.Ember Creations Using Weighted Average CostH PurchasesH SalesH Balancel H Datell Details 1 QtyH Unit1 Value QtyH Unit1 Value 1I QtyH Unit1 Value (if.any)H Cost 1l (S)H Cost1 ($]H Cost1l (S)H ($)H ($JH 10,000.0 H 01/09H Opening-Balanced 400X 25.00-4 15,200.0 H 06/06H Purchased 2008 261 5,200.008 25.33.4 10 893.3 H 07/06H SalesH 1708 4,306.678 4301 25.33.4 10,373.3 09/06H Purchase-Returnl -520.008 410 25.30-4 17/06H Salesh 130X 3,289.118 280H 7,084.234 25 30-4 25.30.4 10,324.2 23/068 Purchased 120H 278 3,240.0DR 0.DDR 400X 25.814 28/061 SalesH Q.DOH 2408 6,194.234 25 81-4 25 814 30/061 Sales-Returna Q.DOH -108 -253.008 2508 6,447.234 25.30-4 25.79.H 11,472.7 H 30/06H Totall 300.008 7,920.008 450 008 Inventory 30/06H 25.798 386 851 2358 6,060.398 AdjustmentH 25.79-H(b)-(ii)-Provide-journal-entries.for-Cost of-Goods.Sold-and.for-inventory-variance: 1 Datek Particularsk Debith Credith COGSA 11,472.778 Inventory 11.472.778 Cost of Goods-Sold for-Junex Inventory! 386.858 Inventory Control 386.858 Inventory-Variance for-June

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

asap pls!! Question 14 of 17 - /20 Pina Colada Hotels Ltd. (PCHL) is a small boutique hotel that provides 42 suites that can be rented by the day, week, or month. Food service is available through...

Hi Katrina, I have another accounting problem I need your help with. It's similar to the one you did on 4/4/2016. The due date for this one will be 4/10/2016, Will you be able to help? See below...

Below is the attached document. It's due by thursday. ACCT_301: Carpenter Quiz #2 Student Name: ______________________________________ INSTRUCTIONS: This quiz is to be completed without the...

i need to know how to create an IFRS balance sheet using a GAAP balance sheet GAAP BALANCE SHEET IFRS BALANCE SHEET Assets Assets Jaunty Coffee Company Current assets: Cash 2012 86,100 Short-term...

Hi, This subject is financial accounting, here is a short essay type question, approximately 5 paragraphs. ''Drawing on private interest theory, what powers do you believe the Australian Accounting...

Below is the attached document. It's due by thursday. ACCT_301: Carpenter Quiz #2 Student Name: ______________________________________ INSTRUCTIONS: This quiz is to be completed without the...

Hello again I need help with some more accounting questions. Could you please help? Please see attachment! Question 1 The Red Roses Law Firm prepays for advertising in the local newspaper. On January...

need help for part 8 QUESTION 1 Step 1 You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. Each table is...

THE ETHICAL DIMENSION In this case, aquatic organisms were most directly at risk. Is it acceptable to apply cost-benefit analyses to situations in which the lives of people are directly affected?...

The most recent financial report of ABC Inc. indicates that it generated $550 million, its net working capital has increased by $10 million, its long-term assets have increased by $100 million, and...

Assumr that an exonomy exists where there are jobtaxes, no additional costs, no astmetric informationbetwren investors and corporate management. This firms most likely to go up if it issues debt and...

Indicate the normal balance (debit or credit) and category (Assets, Liabilities, Income, Expenses or Owner's Equity) of each of the following accounts: 1. Cost of Goods Sold 2. Inventory 3. Payroll...