Rapid has determined that the current replacement cost current market value of the October 31, 2019 and marchandise Inventory is $13.000 Read the Rapid Resources, which we FIFO inventory condhat the following account balances at Odober 31. 2019. proto teleasing the financialements for the year Merchandise Inventory, ending $ 15.000 Cost of Goods Sold 57.000 Sales Revenge 119.000 Requirement 1. Prepare any adjusting journal entry required from the ghe information contact the laten he journey to make Sony in the first concolor blank Date Accounts and prior De Jepson Electronic Center began July with units of merchandise inventory that cost ech During July, the store made the following purchase ili (click the icon to view the purchase Japon uses the periodic Inventory system, and the physical count at lyt indicates that es unts of merchandise inventory to enhanch Read the Engles Requirement 1. Determine the endng merchandise Wwentory and cont of goods sold amounts for the financial hertsining the PFO, UFO and we werage letowy centre moltede ro Endwenton Cost of goods cold Jepson Electronic Center began July wit 80 units of merchandise Inventory that cost 500 mach. During ly the store made the following purchases II (Click the icon to view the purchason) Jopon uses the periodic Inventory system and the physical con indicates that units of merchandise yon band Read the teements conting methods Required Requirements Data Table Endergini Cost of 1. Domine the ending merchandised cost of goods sold amounts for the July financial statements using the FIFO, LIFO and weighted average inventory costing thods 2. Sales revenue for Joy to 521.000. Computer' gross pro for Julying each withod 3. Which method will win the lowest income from? Why? Which method will result in the highest come for Je Why 2002 30sec 45 sath Print Done Print Done Kendall Pond Bakery reported net sales revenue of $49,000 and cost of goods sold of $32,000 Compute Kendall Pond's correct gross profit if the company made either of the following independent accounting errors. a. Ending merchandise inventory is overstated by 58,000. b. Ending merchandise inventory is understated by $8,000 Cost of Goods Sold and Gross Profit Corrected for the Error Ending Merchandise Inventory: As Reported - (a) Overstated by (b) Understated by Incorrect $8,000 $8,000 S 49,000 $ 49,000 5 49.000 32,000 Net sales revenue Cost of goods sold Gross profit Rapid has determined that the current replacement cost current market value of the October 31, 2019 and marchandise Inventory is $13.000 Read the Rapid Resources, which we FIFO inventory condhat the following account balances at Odober 31. 2019. proto teleasing the financialements for the year Merchandise Inventory, ending $ 15.000 Cost of Goods Sold 57.000 Sales Revenge 119.000 Requirement 1. Prepare any adjusting journal entry required from the ghe information contact the laten he journey to make Sony in the first concolor blank Date Accounts and prior De Jepson Electronic Center began July with units of merchandise inventory that cost ech During July, the store made the following purchase ili (click the icon to view the purchase Japon uses the periodic Inventory system, and the physical count at lyt indicates that es unts of merchandise inventory to enhanch Read the Engles Requirement 1. Determine the endng merchandise Wwentory and cont of goods sold amounts for the financial hertsining the PFO, UFO and we werage letowy centre moltede ro Endwenton Cost of goods cold Jepson Electronic Center began July wit 80 units of merchandise Inventory that cost 500 mach. During ly the store made the following purchases II (Click the icon to view the purchason) Jopon uses the periodic Inventory system and the physical con indicates that units of merchandise yon band Read the teements conting methods Required Requirements Data Table Endergini Cost of 1. Domine the ending merchandised cost of goods sold amounts for the July financial statements using the FIFO, LIFO and weighted average inventory costing thods 2. Sales revenue for Joy to 521.000. Computer' gross pro for Julying each withod 3. Which method will win the lowest income from? Why? Which method will result in the highest come for Je Why 2002 30sec 45 sath Print Done Print Done Kendall Pond Bakery reported net sales revenue of $49,000 and cost of goods sold of $32,000 Compute Kendall Pond's correct gross profit if the company made either of the following independent accounting errors. a. Ending merchandise inventory is overstated by 58,000. b. Ending merchandise inventory is understated by $8,000 Cost of Goods Sold and Gross Profit Corrected for the Error Ending Merchandise Inventory: As Reported - (a) Overstated by (b) Understated by Incorrect $8,000 $8,000 S 49,000 $ 49,000 5 49.000 32,000 Net sales revenue Cost of goods sold Gross profit