Blossom Retailers uses a perpetual inventory system. Data for athletic t-shirts include the following purchases: Date June 6 Aug. 20 Number of Units 64 44 Unit Cost $12 10 On July 9, Blossom sold 42 t-shirts, and on September 7, 54 more units. Prepare the perpetual inventory record for the above transactions using weighted average. (Round weighted average cost per unit to 3 decimals places e.g. 52.750 and total amounts to 2 decimal places e.g. 5,275.25.) Units $ LA Inventory Balance Cost $ $ Total

Blossom Retailers uses a perpetual inventory system. Data for athletic t-shirts include the following purchases: Date June 6 Aug. 20 Number of Units 64 44 Unit Cost $12 10 On July 9, Blossom sold 42 t-shirts, and on September 7, 54 more units. Prepare the perpetual inventory record for the above transactions using weighted average. (Round weighted average cost per unit to 3 decimals places e.g. 52.750 and total amounts to 2 decimal places e.g. 5,275.25.) Units $ LA Inventory Balance Cost $ $ Total

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Description: Blossom Retailers uses a perpetual inventory system. Data for athletic t-shirts include the following purchases:DateJune 6Aug. 20Numberof Units6444UnitCost$1210On July 9, Blossom sold 42 t-shirts, and on September 7, 54 more units.Prepare the perpet

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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*BE6-9 Rosario Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Number of Date Units Unit Price May 7 50 $10 July 28 30 13 On June 1, Rosario sold 26 units, and on August 27, 40 more units. Prepare the perpetual inventory schedule for the above transactions using (a) FIFO, (b) LIFO, and (c) moving-average cost.
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