Spreadsheet Print Preferences Assignment 4 (Question 2) Name: Parchit Kumar Date: 2021-11-20 Question 2 [14 points] The XYZ Corporation company has the following purchases and sales during the year ended December 31, 2014. Inventory and Purchases Sales Beginning: 300 units @ $13/unit May 19: 200 units February 27: 200 units @ $12/unit September 23: 200 units July 17: 100 units @ $11/unit The units have a selling price of $15.00 per unit. a) Given that XYZ Corporation employs a perpetual inventory system, calculate the cost of goods available for sale and the number of units available for sale Cost of goods available for sale: Units available for sale: 600 Units remaining in ending inventory: 400 b) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit earned by XYZ Corporation usin average cost per unit of merchandise inventory to the nearest cent. Weighted Average Cost of Goods Sold Ending Inventory Gross Profit c) Prepare journal entries to record the following (assuming all sales and purchases are for cash): (a) The purchase on February 27, (b) The sale on September when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions. Dates must be entered in the General Journal Page GJ8 Date Account/Explanation F Debit Credit Type here to search O