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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 110 units @$ 7.80 80 units @$16.30- 380 units @$ 7.10- 130 units @$16.30- 630 units @$6.90 - 580 units @$ 6.00- 830 units @$16.30 Jan. 10: 80 units from beginning inventory Mar. 15: 20 units from beginning inventory, and 110 units from the March 7 purchase $ Assume that Car Armour specifically sold the following units: Oct. 5: 320 units from the July 28 purchase, and 510 units from the October 3 purchase 858.00 1,304.00 2,698.00 2,119.00 4,347.00 3,944.00 13,529.00 Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.)

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 110 units @$ 7.80 80 units @$16.30- 380 units @$ 7.10- 130 units @$16.30- 630 units @$6.90 - 580 units @$ 6.00- 830 units @$16.30 Jan. 10: 80 units from beginning inventory Mar. 15: 20 units from beginning inventory, and 110 units from the March 7 purchase $ Assume that Car Armour specifically sold the following units: Oct. 5: 320 units from the July 28 purchase, and 510 units from the October 3 purchase 858.00 1,304.00 2,698.00 2,119.00 4,347.00 3,944.00 13,529.00 Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.)

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter14: Adjustments And The Work Sheet For A Merchandising Business
Section: Chapter Questions
Problem 1SEB: ADJUSTMENT FOR MERCHANDISE INVENTORY USING T ACCOUNTS: PERIODIC INVENTORY SYSTEM Sandra Owens owns a...
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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 i Oct. 3 Purchased Oct. 5 Sold 110 units @$ 7.80 se units @$16.30- 380 units @$ 7.10 - 130 units @$16.30- 630 units @$ 6.90 - 580 units @s 6.80 - 830 units @$16.30- Assume that Car Armour specifically sold the following units: Jan. 10: 80 units from beginning inventory Mar. 15: 20 units from beginning inventory, and 110 units from the March 7 purchase Oct. 5: 320 units from the July 28 purchase, and 510 units from the October 3 purchase. $ 858.00 1,304.00 2,698.00 2,119.00 4,347.00 3,944.00 13,529.00 Ending inventory Cost of goods sold Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.)
Transcribed Image Text: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 i Oct. 3 Purchased Oct. 5 Sold 110 units @$ 7.80 se units @$16.30- 380 units @$ 7.10 - 130 units @$16.30- 630 units @$ 6.90 - 580 units @s 6.80 - 830 units @$16.30- Assume that Car Armour specifically sold the following units: Jan. 10: 80 units from beginning inventory Mar. 15: 20 units from beginning inventory, and 110 units from the March 7 purchase Oct. 5: 320 units from the July 28 purchase, and 510 units from the October 3 purchase. $ 858.00 1,304.00 2,698.00 2,119.00 4,347.00 3,944.00 13,529.00 Ending inventory Cost of goods sold Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.)
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