Aug. 1 Sold $6,500 of equipment on account, credit terms are 1/10, n/30. 8 Straight Shot received payment from the customer on the amount due from August 1, less the discount. 15 Sold $3,100 of equipment on account, credit terms are n/45, FOB destination. 15 Straight Shot paid $90 on freight out. 20 Straight Shot negotiated a $500 allowance on the goods sold on August 15. 24 Received payment from the customer on the amount due from August 15, less the allowance.

Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions. Units Sold at Retail Units Acquired at Cost @$45 per unit $42 per unit @ $27 per unit Date January 1 February 10 March 13 March 15 August 21 Septeber 5 September 10 Activities Beginning inventory Purchase Purchase Sales Purchase Purchase Sales Totals Cost of goods available for sale Number of units available for sale Ending inventory Required: 1. Compute cost of goods available for sale and the number of units available for sale. (a) FIFO (b) LIFO (c) Weighted average (d) Specific identification 2. Compute the number of units in ending inventory. $ Sales Less: Cost of goods sold Gross profit 1,400 units Ending Inventory $ $ S O Weighted Average O Specific Identification O LIFO O FIFO 600 units 400 units 200 units 100 units 500 units 9,800 7,600 1,800 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d)…

Calculate the cost of goods sold for may and the ending inventory at may 31 using the FIFO formula.

Nix'It Company's ledger on July 31, Its fiscal year-end, Includes the following selected accounts that have normal balances. Nix'It uses the perpetual Inventory system. Retained earnings Dividends Sales Sales discounts Sales returns and allowances Prepare the company's year-end closing entries. No 1 2 3 Date July 31 July 31 July 31 Sales Income summary Income summary Sales discounts $ 115,300 Cost of goods sold 7,000 Depreciation expense expense 170,000 Salaries expense 4,700 Miscellaneous expenses 6,500 Income summary X Answer is not complete. Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Retained earnings General Journal 33 333333 ✓ 33 $ 106,900 10,300 32,500 5,000 Debit 170,000✔ > 147,900 X 149,700 X Credit 170,000 4,700 6,500 106.900 10,300 32,500 3330 149,700 x

Use this inventory information for the month of March to answer the following questions. Assuming that a periodic inventory system is used, what is ending inventory (rounded) under theaverage-cost method? What is cost of goods sold on a FIFO basis? What is ending inventory under the LIFO method?

Required information [The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 380 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory Date January 1 January 10 January 20 January 25 January 30 View transaction list Activities Beginning inventory Sales Purchase Sales. Purchase Totals Journal entry worksheet 1 < 3 Record journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses a perpetual inventory system and FIFO, All sales and purchases are made on account, and no discounts are offered. Record the sale of goods. 4 5 Units Acquired at Cost 240 units @ $16.50- 170 units @ $15.50 380 units @ $ 15.00- 790 units 6 $ 3,960 2,635 5,700 $ 12,295 Units sold at Retail 190 units 0 $25.50 e $25.50 190 units 380 units

Help please

Using the following accounts, record journal entries using the periodic inventory system for the following purchase transactions of Apex Industries. Accounts Receivable Cost of Goods Sold Purchase Returns and Allowances Accounts Payable Merchandise Inventory Sales Cash Purchases Sales Returns and Allowances PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). Purchased 24 computers on credit for $560 per computer. Terms of the purchase are 4/10, n/60, invoice dated November 6. DR CR Returned 5 defective computers for a full refund from the manufacturer on November 10. DR CR Paid account in full from the November 6 purchase on November 22. DR CR

Please help me

Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 12 units @ $45 11 Purchase 13 units @ $47 14 Sale 18 units 21 Purchase 9 units @ $60 25 Sale 10 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using LIFO,