I need the journlaized inventory transactions under the methods : FIFO, The accounts are : cash, cost of gold sold, merchandise inventory, and sales revenue. The data table is here Date Description Units Per Unit Jan 1 Inventory on hand 5,000 $11 Jan 3 purchase 9,000 $13 Jan 6 sale 8,500 $23 Jan 15 purchase 13,000 $15 Jan 22 sale 12,000 $23

Cost of Goods Sold and the Periodic System Kanzu Company uses the periodic inventory system. Kanzu started the period with $10,000 in inventory. The Company purchased an additional $25,000 of merchandise, and returned $1,000 for a full credit. A physical count of inventory at the end of the period revealed that there was an ending inventory balance of $8,000 What was Kanzu's cost of goods sold during the period?

Enter the missing dollar amounts for the income statement for each of the following independent cases. (Hint: In Case B, work from the bottom up.) Net sales revenue Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Gross profit Expenses Pretax income (loss) $ Case A 11,000 4,880 10,210 $ 7,630 200 $ 1,760 $ Case B 6,560 15,200 11,030 $ 1,330 (530) $ Case C $ 3,910 9,430 13,340 $ 6,090 4,420 700 970

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