Golf Haven Superstore carries an inventory of putters and other golf clubs. The sales price of each putter is $144. Company records indicate the following for a particular line of Golf Haven Superstore's putters View the records. Read the requirements. Requirement 1. Prepare Golf Haven Superstore's perpetual inventory record for the putters assuming Golf Haven Supersto Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar. Then identify the cost Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory c been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the Date Quantity Jun 1 Jun 0 Jun 8 12 Purchases Unit Cost 75 Total Cost 900 CIC Cost of Goods Sold Unit Total Quantity Cost Cost 25 72 $ 144 Inventory on Hand Unit Quantity Cost 85 Os 6 72 S 72 S Total Cost 570 432 450 Records Date Jun. 1 Jun. 6 Jun. 8 Jun. 17 Jun. 30 Item Balance Sale Purchase Sale Sale Print Quantity Unit Cost 72 05 2 12 12 4 Done 75
Golf Haven Superstore carries an inventory of putters and other golf clubs. The sales price of each putter is $144. Company records indicate the following for a particular line of Golf Haven Superstore's putters View the records. Read the requirements. Requirement 1. Prepare Golf Haven Superstore's perpetual inventory record for the putters assuming Golf Haven Supersto Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar. Then identify the cost Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory c been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the Date Quantity Jun 1 Jun 0 Jun 8 12 Purchases Unit Cost 75 Total Cost 900 CIC Cost of Goods Sold Unit Total Quantity Cost Cost 25 72 $ 144 Inventory on Hand Unit Quantity Cost 85 Os 6 72 S 72 S Total Cost 570 432 450 Records Date Jun. 1 Jun. 6 Jun. 8 Jun. 17 Jun. 30 Item Balance Sale Purchase Sale Sale Print Quantity Unit Cost 72 05 2 12 12 4 Done 75
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:Golf Haven Superstore carries an inventory of putters and other golf clubs. The sales price of each putter is $144. Company records indicate the following for a particular line of Golf Haven
Superstore's putters
View the records.
Read the requirements.
Requirement 1. Prepare Golf Haven Superstore's perpetual inventory record for the putters assuming Golf Haven Supersto
Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar. Then identify the cost
Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory
been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the
Date
Jun. 1
Jun 6
Jun 8
Quantity
12
Purchases
Unit
Cost
75
Total
Cost
900
Cost of Goods Sold
Unit
Cost
Quantity
Total
Cost
2 $ 72 $ 144
Inventory on Hand
Unit
Quantity Cost
8 $
65
6
72 S
72 S
Total
Cost
576
432
450
Records
Date
Jun. 1
Jun. 6
Jun. 8
Jun. 17
Jun. 30
Item
Balance
Sale
Purchase
Sale
Sale
Print
Quantity Unit Cost
85
2
12
12
Done
72
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