Question: Please use the bolded information to determine the solution. The Pictures represent the amounts needed. Updated Scenario: Many customers have been asking for more hypoallergenic

Please use the bolded information to determine the solution. The Pictures represent the amounts needed.

Updated Scenario: Many customers have been asking for more hypoallergenic products, so in September you start carrying a line of hypoallergenic shampoos on a trial basis. The following information relates to the purchase and sales of the shampoo:

You use the perpetual inventory method. You are uncertain as to which valuation method to useFIFO, LIFO, or weighted average, so you calculate inventory using all three and then decide which one you would like to choose.

Data: The following events occur in September, 2018:

September 1: Paid dividends to self in amount of $10,000.

September 5: Pay employee for period ending 8/31.

September 7: Purchase merchandise for resale. See Inventory Valuation tab for details.

September 8: Receive payments from customers toward accounts receivable in amount of $4,000.

September 10: Pay August telephone bill.

September 11: Purchase baking supplies in amount of $7,000 from vendor on account.

September 13: Paid on supplies vendor account in amount of $5,000.

September 15: Accrue employee wages for period of September 1 through September 15.

September 15: Pay rent on bakery space: $1,500.

September 15: Record merchandise sales transaction. See Inventory Valuation tab for details.

September 15: Record impact of sales transaction on COGS and the inventory asset. See Inventory Valuation tab for details.

September 20: Pay employee for period ending 9/15.

September 20: Purchase merchandise inventory for resale to customers. See Inventory Valuation tab for details.

September 24: Record sales of merchandise to customers. See Inventory Valuation tab for details.

September 24: Record impact of sales transaction on COGS and the inventory asset. See Inventory Valuation tab for details.

September 30: Purchase merchandise inventory for resale to customers. See Inventory Valuation tab for details.

September 30: Accrue employee wages for period of September 16th through September 30th

September 30: Total September bakery sales are $20,000. $6,000 of these sales are on accounts receivable.

Please use the bolded information to determine the solution. The Pictures

represent the amounts needed. Updated Scenario: Many customers have been asking for

more hypoallergenic products, so in September you start carrying a line of

hypoallergenic shampoos on a trial basis. The following information relates to the

purchase and sales of the shampoo: You use the perpetual inventory method.

You are uncertain as to which valuation method to useFIFO, LIFO, or

weighted average, so you calculate inventory using all three and then decide

I'm having trouble determining where to put the calculations

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Career Financial Shopping Medical File Facebook Travel Games Food > Movies, Videos & TV Other bookmarks ACC 201 Final Project Workbook actual submission.xlsx Format Help Download Share File Edit Insert Calibri 11 - B IU$ A. + + B D E F G H K L M N O - P 3 4 USE THIS ONE FOR THE SEPTEMBER ENTRIES Date Purchases 7-Sep 10 $6.00 $60.00 Sales Cr Ending Inventory $6.00 $60.00 Dr 60.00 10 5 6 7 8 7-Sep Merchandise Inventory (10 x $6) Cash Purchased inventory 60.00 15-Sep 8 $6.00 $48.00 2 $6.00 $12.00 20-Sep 20 $6.10 $122.00 68.00 2 20 22 $6.00 $6.10 10 $12.00 $122.00 $134.00 15-Sep Cash (8 x $8.50) Merchandise Sales Record sale of inventory 68.00 12 48.00 13 24-Sep 2 16 $6.00 $6.10 $12.00 $97.60 $109.60 14 4 $6.10 $24.40 15-Sep Cost of Goods Sold (8 X $6) Merchandise Inventory Recorded the cost of goods sold 48.00 15 16 17 30-Sep 122.00 25 $6.05 $151.25 4 $6.10 $6.05 20-Sep Merchandise Inventory (20 x $6.10 ) Cash 122.00 18 25 29 $24.40 $151.25 $175.65 470 LC 19 153.00 26 14 , Ma Cach (18 x 8 5 1 Chart of Accounts July Journal Entries 4 August Journal Entries September Journal Entries Income State Inventory Valuation T-Accounts Trial Balance Adjusting Entries 5-1 Final Proje x C Get Homeworx + & Co Home --Stud Mail- Kale, Ste ACC 201 Miles | Updated Scen | X ACC 201 Final X * Office Editing for Docs, Sheets & Slides chrome extension://bpmcpldpdmajfigpchkicefoigmkfalc/views/app.ht... * Shopping ? 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ACC 201 Final Project Workbook actual submission.xlsx Format Help Download Share File Edit Insert @ @ Calibri 11 B 1 UA ++ E- fx B D E F G H 1 J K L M N O P 16 17 30-Sep 25 $6.05 $151.25 4 122.00 $6.10 $6.05 $24,40 $151.25 20-Sep Merchandise Inventory (20 x $6.10 ) Cash 18 122.00 19 25 29 29 $175.65 $175.65 20 55 $333.25 26 $157.60 153.00 21 24-Sep Cash (18 x 8.50) Merchandise Sales Record sale of inventory 153.00 22 23 24 109.60 25 24-Sep Cost of Goods Sold (2 x $6)+(16 x $6.10) Merchandise Inventory Recorded the cost of goods sold 109.60 26 27 28 151.25 30-Sep Merchandise Inventory (25 x $6.05) Cash 29 151.25 30 31 10 Chart of Accounts July Journal Entries August Journal Entries September Journal Entries Inventory Valuation T-Accounts Trial Balance Adjusting Entries Income State + 0 4:3 Download 8 Share X ACC 201 Final Project Workbook actual submission.xlsx File Edit Insert Format Help Calibri - 11 - BI USA + E F G H 1 J L 60.00 C D Purchases 10 $6.00 Sales K Ending Inventory $6.00 M N 7-Sep Merchandise Inventory (10 x $6) Cash Purchased inventory 60.00 $60.00 10 $60.00 f = 18*8.5 B 35 36 7-Sep 37 38 15-Sep 39 40 20-Sep 41 42 8 $6.00 $48.00 2 $6.00 $12.00 68.00 68.00 20 $122.00 $6.10 15-Sep Cash (8 x $8.50) Merchandise Sales Record sale of inventory 2 20 $6.00 $6.10 $12.00 $122.00 22 $134.00 48.00 43 48.00 $6.10 $109.80 2 1098 18 44 15 Sep Cost of Goods Sold (8 X $6) Merchandise Inventory Record inventory reduction due to sale $6.00 $6.10 24-Sep $12.00 $12.20 2 45 4 $24.20 46 122.00 47 20-Sep Merchandise Inventory (20 x $6.10) Cash 122.00 48 30-Sep 25 $6.05 $151.25 2 2 $6.00 $6.10 $6.05 $12.00 $ 12.20 $151.25 49 153.00 25 24-Sep Cash (18 x 8.50) 50 CAO 1 CAC Macale T-Accounts Inventory Valuation Trial Balance Adjusting Entries Income State Chart of Accounts July Journal Entries August Journal Entries September Journal Entries Tice Edung 01 DOUS, SH Other bookmarks Facebook Travel Games Food Movies, Videos & TV Cercer Financial Medical File Shopping Download @ Share al Project Workbook actual submission.xlsx Format Help 1 Calibri 11 I USA O P N 1 H L M K D E F 153.00 29 29 $175.45 $175.45 Merchandise Sales Record sale of inventory $333.25 26 $157.80 109.80 24-Sep Cost of Goods Sold (18 x $6.10) Merchandise Inventory Record inventory reduction due to sale 109.80 151.25 30-Sep Merchandise Inventory (25 x $6.05) Cash 151.25 60.00 Sales ases $6.00 Ending Inventory $6.00 $60 7-Sep Merchandise Inventory (10 x 56) Cash Purchased inventory 60.00 $60.00 10 $6.00 49.no t600 12 on 4 August Journal Entries T-Accounts September Journal Entries Income State Journal Entries Inventory Valuation Trial Balance Adjusting Entries 3 04: Download Shar X ACC 201 Final Project Workbook actual submission.xlsx File Edit Insert Format Help E- Calibri 11 B I USA f* E L F G H 1 D Purchases 10 $6.00 Sales J K Ending Inventory $6.00 $60 M N 7-Sep Merchandise Inventory (10 x $6) Cash Purchased inventory $60.00 10 A B 64 weighted average 65 7-Sep 66 67 15-Sep 68 69 20-Sep 70 $6.00 $48.0 8 $48.00 2 $6.00 $12.00 20 $6.10 $122.00 2 20 15-Sep Cash (8 x $8.50) Merchandise Sales Record sale of inventory $6.00 $6.10 $12.00 $122.00 per unit $134.00 $6.09 22 71 72 73 24-Sep 18 $6.09 4 $109.62 $24.38 15-Sep Cost of Goods Sold (8 X $6) Merchandise Inventory Record inventory reduction due to sale 74 75 30-Sep 25 $6.05 $ 151.25 4 76 $6.05 25 29 $-0 $ 151.25 $151.25 $5.22 20-Sep Merchandise Inventory (20 x $6.10) Cash 55 $333.25 26 157.62 77 78 79 24-Sep Cash (18 x 8.50) Mecale Chart of Accounts July Journal Entrie ist Tournal Entries antomher lournal Entrion Inonton X ACC 201 Final x + Mail - Kale, Ste X ACC 201 Miles X Final Pro X Home -> Stud X Updated Scen x | Get Homework X * Office Editing for Docs, Sheets & Slides chrome-extension://bpmcpldpdmajfigpchkicefoigmkfalc/views/app.ht.. Other book Games Food Travel Movies, Videos & TV Medical File Facebook Financial Career ting - Fuzzie Bu Shopping Download @ Share ACC 201 Final Project Workbook actual submission.xlsx File Edit Insert Format Help Calibri 11 BI USA 87 O P E F G H 1 J L M K N Record inventory reduction due to sale 25 $6.05 $ 151.25 4 $-0 $151.25 $6.05 122.00 25 29 20-Sep Merchandise Inventory (20 x $6.10) Cash 55 $333.25 26 157.62 $151.25 $5.22 122.00 153.00 24-Sep Cash (18 x 8.50) Merchandise Sales Record sale of inventory 153.00 109.62 24-Sep Cost of Goods Sold (18 x $6.09) Merchandise Inventory Record inventory reduction due to sale 109.62 30-Sep Merchandise Inventory (25 x $6.05) Cash 151.25 151.25 Accounts July Journal Entries August Journal Entries September Journal Entries Inventory Valuation T-Accounts Trial Balance Adjusting Entries Income State Crafting - Fuzzie Bu... Career Shopping Financial Medical File Facebook Travel Games Other bookmarks Food Movies, Videos & TV Download Share X ACC 201 Final Project Workbook actual submission.xlsx File Edit Insert Format Help @ Calibri 11 - B I USA f B C D E F G H M - O P J $6.10 K L $122.00 per unit $134.00 $6.09 N Record sale of inventory 20 22 48.00 70 71 72 73 74 75 76 24-Sep $6.09 $109.62 4. $24.38 15-sep Cost of Goods Sold (8 X 56) Merchandise Inventory Record inventory reduction due to sale 48.00 30-Sep 25 $6.05 $151.25 4 $-0 $ 151.25 $6.05 122.00 25 29 20-Sep Merchandise Inventory (20 x $6.10) Cash 55 $333.25 26 157.62 $151.25 $5.22 122.00 77 78 79 153.00 80 24-Sep Cash (18 x 8.50) Merchandise Sales Record sale of inventory 153,00 81 82 83 109.62 24-Sep Cost of Goods Sold (18 x $6.09) Merchandise Inventory Record inventory reduction due to sale 84 85 109.62 TUD Chart of Accounts July Journal Entries August Journal Entries September Journal Entries Inventory Valuation T-Accounts Trial Balance Adjusting Entries Income State Office Editing for Docs, Sheets & Slides chrome-extension://bpmcpldpdmatigpchkicetoigmkfalc/views/app.ht... Crafting - Fuzzie Bu... Career Financial Shopping Medical File Facebook Travel Games Food > Movies, Videos & TV Other bookmarks ACC 201 Final Project Workbook actual submission.xlsx Format Help Download Share File Edit Insert Calibri 11 - B IU$ A. + + B D E F G H K L M N O - P 3 4 USE THIS ONE FOR THE SEPTEMBER ENTRIES Date Purchases 7-Sep 10 $6.00 $60.00 Sales Cr Ending Inventory $6.00 $60.00 Dr 60.00 10 5 6 7 8 7-Sep Merchandise Inventory (10 x $6) Cash Purchased inventory 60.00 15-Sep 8 $6.00 $48.00 2 $6.00 $12.00 20-Sep 20 $6.10 $122.00 68.00 2 20 22 $6.00 $6.10 10 $12.00 $122.00 $134.00 15-Sep Cash (8 x $8.50) Merchandise Sales Record sale of inventory 68.00 12 48.00 13 24-Sep 2 16 $6.00 $6.10 $12.00 $97.60 $109.60 14 4 $6.10 $24.40 15-Sep Cost of Goods Sold (8 X $6) Merchandise Inventory Recorded the cost of goods sold 48.00 15 16 17 30-Sep 122.00 25 $6.05 $151.25 4 $6.10 $6.05 20-Sep Merchandise Inventory (20 x $6.10 ) Cash 122.00 18 25 29 $24.40 $151.25 $175.65 470 LC 19 153.00 26 14 , Ma Cach (18 x 8 5 1 Chart of Accounts July Journal Entries 4 August Journal Entries September Journal Entries Income State Inventory Valuation T-Accounts Trial Balance Adjusting Entries 5-1 Final Proje x C Get Homeworx + & Co Home --Stud Mail- Kale, Ste ACC 201 Miles | Updated Scen | X ACC 201 Final X * Office Editing for Docs, Sheets & Slides chrome extension://bpmcpldpdmajfigpchkicefoigmkfalc/views/app.ht... * Shopping ? Crafting - Fuzzie Bu Career Financial Medical File Facebook Travel Games Food Movies, Videos & TV >> Other bookmar! ACC 201 Final Project Workbook actual submission.xlsx Format Help Download Share File Edit Insert @ @ Calibri 11 B 1 UA ++ E- fx B D E F G H 1 J K L M N O P 16 17 30-Sep 25 $6.05 $151.25 4 122.00 $6.10 $6.05 $24,40 $151.25 20-Sep Merchandise Inventory (20 x $6.10 ) Cash 18 122.00 19 25 29 29 $175.65 $175.65 20 55 $333.25 26 $157.60 153.00 21 24-Sep Cash (18 x 8.50) Merchandise Sales Record sale of inventory 153.00 22 23 24 109.60 25 24-Sep Cost of Goods Sold (2 x $6)+(16 x $6.10) Merchandise Inventory Recorded the cost of goods sold 109.60 26 27 28 151.25 30-Sep Merchandise Inventory (25 x $6.05) Cash 29 151.25 30 31 10 Chart of Accounts July Journal Entries August Journal Entries September Journal Entries Inventory Valuation T-Accounts Trial Balance Adjusting Entries Income State + 0 4:3 Download 8 Share X ACC 201 Final Project Workbook actual submission.xlsx File Edit Insert Format Help Calibri - 11 - BI USA + E F G H 1 J L 60.00 C D Purchases 10 $6.00 Sales K Ending Inventory $6.00 M N 7-Sep Merchandise Inventory (10 x $6) Cash Purchased inventory 60.00 $60.00 10 $60.00 f = 18*8.5 B 35 36 7-Sep 37 38 15-Sep 39 40 20-Sep 41 42 8 $6.00 $48.00 2 $6.00 $12.00 68.00 68.00 20 $122.00 $6.10 15-Sep Cash (8 x $8.50) Merchandise Sales Record sale of inventory 2 20 $6.00 $6.10 $12.00 $122.00 22 $134.00 48.00 43 48.00 $6.10 $109.80 2 1098 18 44 15 Sep Cost of Goods Sold (8 X $6) Merchandise Inventory Record inventory reduction due to sale $6.00 $6.10 24-Sep $12.00 $12.20 2 45 4 $24.20 46 122.00 47 20-Sep Merchandise Inventory (20 x $6.10) Cash 122.00 48 30-Sep 25 $6.05 $151.25 2 2 $6.00 $6.10 $6.05 $12.00 $ 12.20 $151.25 49 153.00 25 24-Sep Cash (18 x 8.50) 50 CAO 1 CAC Macale T-Accounts Inventory Valuation Trial Balance Adjusting Entries Income State Chart of Accounts July Journal Entries August Journal Entries September Journal Entries Tice Edung 01 DOUS, SH Other bookmarks Facebook Travel Games Food Movies, Videos & TV Cercer Financial Medical File Shopping Download @ Share al Project Workbook actual submission.xlsx Format Help 1 Calibri 11 I USA O P N 1 H L M K D E F 153.00 29 29 $175.45 $175.45 Merchandise Sales Record sale of inventory $333.25 26 $157.80 109.80 24-Sep Cost of Goods Sold (18 x $6.10) Merchandise Inventory Record inventory reduction due to sale 109.80 151.25 30-Sep Merchandise Inventory (25 x $6.05) Cash 151.25 60.00 Sales ases $6.00 Ending Inventory $6.00 $60 7-Sep Merchandise Inventory (10 x 56) Cash Purchased inventory 60.00 $60.00 10 $6.00 49.no t600 12 on 4 August Journal Entries T-Accounts September Journal Entries Income State Journal Entries Inventory Valuation Trial Balance Adjusting Entries 3 04: Download Shar X ACC 201 Final Project Workbook actual submission.xlsx File Edit Insert Format Help E- Calibri 11 B I USA f* E L F G H 1 D Purchases 10 $6.00 Sales J K Ending Inventory $6.00 $60 M N 7-Sep Merchandise Inventory (10 x $6) Cash Purchased inventory $60.00 10 A B 64 weighted average 65 7-Sep 66 67 15-Sep 68 69 20-Sep 70 $6.00 $48.0 8 $48.00 2 $6.00 $12.00 20 $6.10 $122.00 2 20 15-Sep Cash (8 x $8.50) Merchandise Sales Record sale of inventory $6.00 $6.10 $12.00 $122.00 per unit $134.00 $6.09 22 71 72 73 24-Sep 18 $6.09 4 $109.62 $24.38 15-Sep Cost of Goods Sold (8 X $6) Merchandise Inventory Record inventory reduction due to sale 74 75 30-Sep 25 $6.05 $ 151.25 4 76 $6.05 25 29 $-0 $ 151.25 $151.25 $5.22 20-Sep Merchandise Inventory (20 x $6.10) Cash 55 $333.25 26 157.62 77 78 79 24-Sep Cash (18 x 8.50) Mecale Chart of Accounts July Journal Entrie ist Tournal Entries antomher lournal Entrion Inonton X ACC 201 Final x + Mail - Kale, Ste X ACC 201 Miles X Final Pro X Home -> Stud X Updated Scen x | Get Homework X * Office Editing for Docs, Sheets & Slides chrome-extension://bpmcpldpdmajfigpchkicefoigmkfalc/views/app.ht.. Other book Games Food Travel Movies, Videos & TV Medical File Facebook Financial Career ting - Fuzzie Bu Shopping Download @ Share ACC 201 Final Project Workbook actual submission.xlsx File Edit Insert Format Help Calibri 11 BI USA 87 O P E F G H 1 J L M K N Record inventory reduction due to sale 25 $6.05 $ 151.25 4 $-0 $151.25 $6.05 122.00 25 29 20-Sep Merchandise Inventory (20 x $6.10) Cash 55 $333.25 26 157.62 $151.25 $5.22 122.00 153.00 24-Sep Cash (18 x 8.50) Merchandise Sales Record sale of inventory 153.00 109.62 24-Sep Cost of Goods Sold (18 x $6.09) Merchandise Inventory Record inventory reduction due to sale 109.62 30-Sep Merchandise Inventory (25 x $6.05) Cash 151.25 151.25 Accounts July Journal Entries August Journal Entries September Journal Entries Inventory Valuation T-Accounts Trial Balance Adjusting Entries Income State Crafting - Fuzzie Bu... Career Shopping Financial Medical File Facebook Travel Games Other bookmarks Food Movies, Videos & TV Download Share X ACC 201 Final Project Workbook actual submission.xlsx File Edit Insert Format Help @ Calibri 11 - B I USA f B C D E F G H M - O P J $6.10 K L $122.00 per unit $134.00 $6.09 N Record sale of inventory 20 22 48.00 70 71 72 73 74 75 76 24-Sep $6.09 $109.62 4. $24.38 15-sep Cost of Goods Sold (8 X 56) Merchandise Inventory Record inventory reduction due to sale 48.00 30-Sep 25 $6.05 $151.25 4 $-0 $ 151.25 $6.05 122.00 25 29 20-Sep Merchandise Inventory (20 x $6.10) Cash 55 $333.25 26 157.62 $151.25 $5.22 122.00 77 78 79 153.00 80 24-Sep Cash (18 x 8.50) Merchandise Sales Record sale of inventory 153,00 81 82 83 109.62 24-Sep Cost of Goods Sold (18 x $6.09) Merchandise Inventory Record inventory reduction due to sale 84 85 109.62 TUD Chart of Accounts July Journal Entries August Journal Entries September Journal Entries Inventory Valuation T-Accounts Trial Balance Adjusting Entries Income State

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