Inventory records for Julie Company revealed the following: Number of Units 1,000 600 800 600 Date March 1 Beginning Inventory March 18 Purchase March 16 Purchase March 23 Purchase Julle sold 2.300 units of inventory during the month. Ending inventory assuming LIFO would be: Show Transcribed Text No Transaction 1 2 6. Record closing entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) perpetual inventory system. January 22 Receive $580,000 from customers on accounts receivable. January 24 Pay $410,000 to inventory suppliers on accounts payable. January 27 Write off accounts receivable as uncollectible, $2,500. January 31 Pay cash for salaries during January, $128,000. The following information is available on January 31, 2024. a. At the end of January, the company estimates that the remaining units of inventory purchased on January 12 are expected to sell in February for only $100 each. (Hint: Determine the number of units remaining from January 12 after subtracting the units returned on January 15 and the units assumed sold (FIFO) on January 19.] b. The company records an adjusting entry for $3,000 for estimated future uncollectible accounts. c. The company accrues interest on notes payable for January, Interest is expected to be paid each December 31. d. The company accrues income taxes at the end of January of $12,300. Date January 31, 2024 Sales Revenue Retained Earnings Unit Cost $7.20 7.25 7.30 7.35 January 31, 2024 Retained Earnings Interest Expense Show Transcribed Text Answer is not complete. General Journal 3 C Debit $ 21,900 36,500 O O 30,000 61,600 O O C Debit 600,000 5.070 On January 1, 2024, the general ledger of Big Blast Fireworks includes the following account balances Accounts Credit Cash Accounts Receivable Allowance for Uncollectible Account's Inventory Land Accounts Payable Notes Payable (8%, due in 3 years). Common Stock Retained Earnings Totals $ 3,100 32,400 30,000 56,000 28,500 $ 150,000 $ 150,000 Credit January 3 Purchase 1,200 units for $126,000 on account ($105 each). January 8 Purchase 1,300 units for $143,000 on account ($110 each). 600,000 The $30,000 beginning balance of inventory consists of 300 units, each costing $100. During January 2024, Big Blast Fireworks had the following inventory transactions: 200 January 12 Purchase 1,400 units for $161,000 on account ($115 each). January 15 Return 100 of the units purchased on January 12 because of defects. January 19 January 22 Receive $580,000 from customers on accounts receivable. January 24 Pay $410,000 to inventory suppliers on accounts payable. January 27 Write off accounts receivable as uncollectible, $2,500. January 31 Pay cash for salaries during January, $128,000. The following information is available on January 31, 2024. Sell 4,000 units on account for $600,000. The cost of the units sold is determined using a FIFO perpetual inventory system.

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Use the inventory information for the month of September in the attachment to answer the question below.   Assuming that a perpetual inventory system is used, what is ending inventory on a FIFO basis? (Round the answer to the nearest dollar.)

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! Required information [The following information applies to the questions displayed below.] Allied Merchandisers was organized on May 1. Macy Co. is a major customer (buyer) of Allied (seller) products. May 3 Allied made its first and only purchase of inventory for the period on May 3 for 1,000 units at a price of $11 cash per unit (for a total cost of $11,000). 5 Allied sold 500 of the units in inventory for $15 per unit (invoice total: $7,500) to Macy Co. under credit terms 2/10, n/60. The goods cost Allied $5,500. 7 Macy returns 50 units because they did not fit the customer's needs (invoice amount: $750). Allied restores the units, which cost $550, to its inventory. 8 Macy discovers that 50 units are scuffed but are still of use and, therefore, keeps the units. Allied gives a price reduction (allowance) and credits Macy's accounts receivable for $350 to compensate for the damage. 15 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of…

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Journalize the transaction using the perpetual inventory system,,,,,,,,,,,,,, please answer in text form without image every entry should be narrated

Transactions for the month of July for Carla Vista's Bookstore were as follows: July (a) 1 (balance) 8 22 Purchases 30 Assuming that periodic inventory records are kept. 590@ $7.30 July 1,190@ $7.40 680 @ $7.60 210@ $7.75 Ending inventory Cost of goods sold Determine the ending inventory and cost of goods sold using FIFO method. (Round answers to 2 decimal places, e.g. 52.75.) $ Sales $ $9.3 12 890@ $9.55 25 790@ $9.80 3 350 @