Question: please explain how to solve this question? Kingbird Company uses a perpetual inventory system. Beginning inventory is 4,800 T-shirts at a cost $2.50 per shirt.


Kingbird Company uses a perpetual inventory system. Beginning inventory is 4,800 T-shirts at a cost $2.50 per shirt. During the year Kingbird had the following inventory transactions: All purchases and sales are on account. (a) Your answer is correct: Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average cost per unit to 2 decimal places, es. 15.25 and final answers to 0 decimal places, es. 5,275) (b) Prepare journal entries to record the February 18 and the August 29 sales. All sales and purchases are made in cash. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries Round the weighted average cost per unit to 2 decimal places, es. 15.25 and final answers to 0 decimal places, es 5.275 ) Prepare journal entries to record the February 18 and the August 29 sales. All sales and purchases are made in cash. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List oll debit entries before credit entries. Round the weighted average cost per unit to 2 decimal ploces, es. 15.25 and final answers to 0 decimal ploces, eg. 5.275
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