July 17 Purchased 50 watches for $7,500 ($150 per watch) on account. July 31 Sold 40 watches for $20,000 cash. August 12 Purchased 40 watches for $6,400 ($160 per watch) cash. August 22 Sold 30 watches for $15,000 on account. September 19 Paid for watches purchased on July 17. September 27 Receive cash of $9,000 for watches sold on account on August 22. October 27 Purchased 80 watches for $13,600 ($170 per watch) cash. November 20 Sold 90 watches for $45,000 cash. December 4 Purchased 100 watches for $18,000 ($180 per watch) on account. December 8 Sold 40 watches for $20,000 on account. Required: 1-a. Calculate sales revenue, cost of goods sold, and ending inventory as of December 31, 2025, assuming Suzie uses a FIFO perpetual inventory system to account for inventory. 1 - b. Prepare the gross profit section of a partial income statement for transactions related to MU watches

Marigold Jewelry shop buys three different rings: a one carat diamond solitaire at a cost of $1,570, a one carat oval sapphire at a cost of $2,150, and a two-carat pear shaped emerald at a cost of $2,840. During the month, the shop sells two of the rings, at the selling price of $2,460 for the diamond ring and $3,650 for the emerald. At December 31, the sapphire ring is still on hand. Calculate the cost of goods sold using specific identification. Cost of goods sold $ ㅕ

Bronkey Alazma Inc. manufactures thought glasses (a creepy device that records the thoughts of people who look your eyeglasses). The products cost $60 to manufacture and sells for $500 each. On January 1, 20X1, Bronkey Alazma Inc.’s trial balance reported a $3,480 credit balance in its “Allowance for Warranties” liability account, representing its liability for estimated repairs on thought glasses sold through December 31, 20X0. Under the terms of its customer sales contract, Bronkey agrees to replace any device that fails within one year of sale. Based on its experience, Bronkey estimates that 4 percent of the devices that it sells during a year will need to be replaced. During 20X1, Bronkey sold 12,000 of the devices and replaced 270 defective devices (each costing $60 per unit). Of the 270 replacement devices, 71 relate to sales made during 20X0 and 199 relate to sales made during 20X1. Ignoring any shipping and handling costs, what is Bronkey’s warranty expense for the year ended…

Spring Appliances received an invoice dated May 15 with terms 3/10 E.O.M. for the items listed below.5 refrigerators at $970 each less 20% and 5 % 4 dishwashers at $622 each Less 16(1/3), 12.8%, and 3 % (a) What is the last day for taking the cash discount? (b) What is the amount due if the invoice is paid on the last day for taking the discount? (c) What is the amount of the cash discount if a partial payment is made such that a balance of $1700 remains outstanding on the invoice?