Marigold Corporation opened a new store on January 1, 2021. During 2021, the first year of...

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Marigold Corporation opened a new store on January 1, 2021. During 2021, the first year of operations, the following purchases and sales of inventory were made: Date Jan. 5 June 11 Oct. 18 Dec. 20 Purchases Units 12 12 15 20 Cost per unit $1,100 1,280 1,390 1,640 Cost of goods available for sale Date Number of units of ending inventory July 4 Dec. 29 Sales Units 15 34 Calculate the cost of goods available for sale and the number of units of ending inventory. Price per unit $2,000 2,000 units Os 5 de CL isi Question 3 of 6 Assume Marigold uses weighted average periodic. Calculate the cost of ending inventory, cost of the goods sold, and gross profit. (Round the weighted average cost per unit to two decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 5,275.) Ending inventory Cost of goods sold Gross profit $ i Assume Marigold uses weighted average perpetual. Calculate the cost of ending inventory, cost of the goods sold, and gross profit. (Round the weighted average cost per unit to two decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 5,275.) Ending inventory Cost of goods sold Gross profit EA Prepare journal entries to record the December 20 purchase and the December 29 sale using (1) weighted average periodic and (2) weighted average perpetual. Assume both the sale and purchase were for cash. (Round final answers to O decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (1) Weighted Average periodic Date Account Titles and Explanation Dec. 20 Dec. 29 (To record cash purchase.) (To record cash sale.) (114-all Debit Cr n Ja of DS al- ld PL Sin DS:A ve (2) Weighted Average perpetual Date Account Titles and Explanation Dec. 20 Dec. 29 Dec. 29 (To record cash purchase.) (To record cash sales.) (To record cost of goods sold.) Debit |||| Credit 11.00 Marigold Corporation opened a new store on January 1, 2021. During 2021, the first year of operations, the following purchases and sales of inventory were made: Date Jan. 5 June 11 Oct. 18 Dec. 20 Purchases Units 12 12 15 20 Cost per unit $1,100 1,280 1,390 1,640 Cost of goods available for sale Date Number of units of ending inventory July 4 Dec. 29 Sales Units 15 34 Calculate the cost of goods available for sale and the number of units of ending inventory. Price per unit $2,000 2,000 units Os 5 de CL isi Question 3 of 6 Assume Marigold uses weighted average periodic. Calculate the cost of ending inventory, cost of the goods sold, and gross profit. (Round the weighted average cost per unit to two decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 5,275.) Ending inventory Cost of goods sold Gross profit $ i Assume Marigold uses weighted average perpetual. Calculate the cost of ending inventory, cost of the goods sold, and gross profit. (Round the weighted average cost per unit to two decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 5,275.) Ending inventory Cost of goods sold Gross profit EA Prepare journal entries to record the December 20 purchase and the December 29 sale using (1) weighted average periodic and (2) weighted average perpetual. Assume both the sale and purchase were for cash. (Round final answers to O decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (1) Weighted Average periodic Date Account Titles and Explanation Dec. 20 Dec. 29 (To record cash purchase.) (To record cash sale.) (114-all Debit Cr n Ja of DS al- ld PL Sin DS:A ve (2) Weighted Average perpetual Date Account Titles and Explanation Dec. 20 Dec. 29 Dec. 29 (To record cash purchase.) (To record cash sales.) (To record cost of goods sold.) Debit |||| Credit 11.00

Answer rating: 100% (QA)

Question 1 Step 1 Cost of Goods Available for Sale 121100121280151390201640 13200153602085032800 822... View the full answer