Kk.11. Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particularproduct in 2023 as followsJan. 1 Beginning inventoryJan. 10 SoldMar. 7 PurchasedMar. 15 SoldJuly 28 PurchasedOct.Oct.3 Purchased5 SoldTotal goods available for sale130 units @s 6.90 - $60 units @$15.40-290 units @$ 6.20-120 units @ $15.40-540 units @$ 6.00-490 units @$ 5.90-660 units @$15.40-Required:1. Calculate the total goods available for sale (in units and cost)Number of units soldNumber units remaining in ending inventoryUnits611Cost2.290 $ 21,7622. Calculate the number of units sold and units remaining in ending inventory.EndingInventory1,798.001,848.003,240.002,891.0010,164.008401,450897.00924.003. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and togoods sold under: (Do not round the intermediate calculations and round the final answers to nearest whole dollar.)Cost of GoodsSold

Name: Kk.11. Car Armour sells car wash cleaners. Car Armour uses a perpetual
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Description: Kk.11. Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particularproduct in 2023 as followsJan. 1 Beginning inventoryJan. 10 SoldMar. 7 PurchasedMar. 15 SoldJuly 28 PurchasedOct.Oct.3

Periodic inventory system means where day to day in or out of goods is not recorded and value of…

Business

Accounting

Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 130 units @s 6.90 - $ 60 units @$15.40- 290 units @$ 6.20- 120 units @ $15.40- 540 units @$ 6.00- 490 units @$ 5.90- 660 units @$15.40 - Total goods available for sale Required: 1. Calculate the total goods available for sale (in units and cost). Units 2,290 $ Number of units sold Number units remaining in ending inventory Cost 2. Calculate the number of units sold and units remaining in ending inventory Ending Inventory 897.00 924.00 1,798.00 1,848.00 3,240.00 2,891.00 10,164.00 21,762 840 1,450 3. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and to goods sold under: (Do not round the intermediate calculations and round the final answers to nearest whole dollar.) Cost of Goods Sold

Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 130 units @s 6.90 - $ 60 units @$15.40- 290 units @$ 6.20- 120 units @ $15.40- 540 units @$ 6.00- 490 units @$ 5.90- 660 units @$15.40 - Total goods available for sale Required: 1. Calculate the total goods available for sale (in units and cost). Units 2,290 $ Number of units sold Number units remaining in ending inventory Cost 2. Calculate the number of units sold and units remaining in ending inventory Ending Inventory 897.00 924.00 1,798.00 1,848.00 3,240.00 2,891.00 10,164.00 21,762 840 1,450 3. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and to goods sold under: (Do not round the intermediate calculations and round the final answers to nearest whole dollar.) Cost of Goods Sold

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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