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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

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

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 5RE: Using the information provided in RE8-4, prepare the journal entry to record the write-down of...
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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
2 Date Account/Explanation 3 January FIFO 03 (0 00 J O U PON 4 5 6 7 8 9 10 11 19 AANAZK963 22 A 24 28 31 32 33 2 22 B to record purchase of inventory. to record sale of merchandize. to record FIFO cost of inventory sold. to record purchase of inventory. to record sale of merchandize. to record FIFO cost of inventory sold. C Post. Ref. Debit E Credit F 0
Transcribed Image Text:2 Date Account/Explanation 3 January FIFO 03 (0 00 J O U PON 4 5 6 7 8 9 10 11 19 AANAZK963 22 A 24 28 31 32 33 2 22 B to record purchase of inventory. to record sale of merchandize. to record FIFO cost of inventory sold. to record purchase of inventory. to record sale of merchandize. to record FIFO cost of inventory sold. C Post. Ref. Debit E Credit F 0
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