solve problem 6-7

Goods sold BBA 1103 Total Units BR4 10 Fundamentals i Aconting Avtor Stock card Cast of G Elits/Unit cost COSE To Problem pen Per me (FIRO) DVE Pod Date Entor The netre Instructi Determi Probl. Thun Deces COD Chefending inventory Cost of goods sold 2 Periodic Inventory System (Average cost) Total mailable for sales Total cost of yoods mailable for sales. Cost of ending inventory d Cost of goods sold. 108 00 BBA Fundamentals of Financial Accounting The words of year the wing data for the month of June, 29xx Quantity Units Problem BIBA 1103 Fundamentals of Financial Accounting - Custofa UW S by Cart of goods sold 30 Date BOXX Bergy S 15 Parches 16 Parchese Reus & Awanges 30 Sales Sales June 20 sales Joh 900 200 1.200 200 800 100 1.100 39 39 2. Periode Inventory Systems (Average cost method) a) Total units available for sales (b) Total cost of goods available for sales 51 (c) Cost of ending Inventory (d) Cost of goods sold Problem 6-7 The inventory records of Isaac Company reveal the following data for the month of August 20XX 1. Complete the record and sing that the company uses perpetual inventory we Instructions and first row (FIFO) wasiption and determine the following for the month June (a) Cose of ending inventor b) Cast of pood old 2. Assuming that the company anglies periodic laventory system and average cost method. copa the following (a) Total units nilable for sales (b) Total cost of goeds valable for sales (c) Cost of ending inventory d) Cost of goods sold Quantity Units Unico 5 21 Date 20XX Age! 5 19 15 25 22 1. Seac car by using FIFO method Purchases Cost of goods sold Unit Unit Date Total Units Total Units Cost cost June Beginning Inventory Sales Purchase Purchases Sales Sales Sales Retur Purchases 1.600 1.000 2.000 1.400 1.200 1.630 300 1.000 Balance Unit Cost 27 70 Units Total 23 30 31 6 15 Instructions: 1. Complete the inventory record card provided in the anwwer sheet assuming that the company w perpetual inventory system and first-In, first-out (FIFO) con flow assumption and determine the following for the month of August (a) Cost of ending inventory (b) Cost of goods sold. 2. Assuming that the company applies periodic inventory system and average cost method compute the following: (a) Total units available for sales (b) Total cost of goods available for sales (c) Cost of ending inventory (d) Cost of goods sold 16 20 22 30 107 106