FER-8= use excel The following information is available for Juddo Inc., a merchandising business in St. Catharines, Ontario. The business uses the perpetual inventory system and controls its inventory using the FIFO method. Description Number Date Unit Cost Selling of Units Price May 1 Opening 150 $4 May 12 Purchase 50 $5 May 22 Sale 158 $12 May 30 Purchase 90 $6 Calculate the cost of goods sold and the ending inventory, using a perpetual inventory system. In addition, provide the entries for all the transactions (the chart is provided on the next page.) NOTE: more rows have been provided than you require. Assume all sales and purchases were made for cash.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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FER-8= use excel
The following information is available for Juddo Inc., a merchandising business in St. Catharines,
Ontario. The business uses the perpetual inventory system and controls its inventory using the
FIFO method.
Description Number
Date
Unit Cost
Selling
of Units
Price
May 1
Opening
150
$4
May 12
Purchase
50
$5
May 22
Sale
158
$12
May 30
Purchase 90
$6
Calculate the cost of goods sold and the ending inventory, using a perpetual inventory system.
In addition, provide the entries for all the transactions (the chart is provided on the next page.)
NOTE: more rows have been provided than you require. Assume all sales and purchases were
made for cash.
Transcribed Image Text:FER-8= use excel The following information is available for Juddo Inc., a merchandising business in St. Catharines, Ontario. The business uses the perpetual inventory system and controls its inventory using the FIFO method. Description Number Date Unit Cost Selling of Units Price May 1 Opening 150 $4 May 12 Purchase 50 $5 May 22 Sale 158 $12 May 30 Purchase 90 $6 Calculate the cost of goods sold and the ending inventory, using a perpetual inventory system. In addition, provide the entries for all the transactions (the chart is provided on the next page.) NOTE: more rows have been provided than you require. Assume all sales and purchases were made for cash.
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