Attachment # 00000703 - comprehensiveproblem2-periodicdata.docx
comprehensiveproblem2-periodicdata.docx (19.35 KB)
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(refer to the detailed question and attachment below)
Ts performed a manual count on May 31st. Ts used the Periodic Average Cost Inventory MethodUsing the following data, determine the Gross Profit for Ts during the month of May.During the month of May, Ts sold Long Sleeve Blue Shirts for $7.50Ts sold Short Sleeve Blue Shirts for $6.50May 1: Inventory Balance: Long Sleeve (LS)Blue Shirts:180 @ $3Inventory Balance: Short Sleeve (SS) Blue Shirts:55 @ $2May 5Purchase:40 LS Blue @ 3.50May 5Purchase:25 SS Blue @ 2.25May 9Purchase:100 LS Blue @ 3.70May 13 Purchase:300 SS Blue @ 2.40May 15Purchase:200 SS Blue @ 2.42May 20Purchase:50 SS Blue @ 2.45May 24Purchase:144 SS Blue @ 2.50May 27 Purchase:300 SS Blue @ 2.52May 30 Purchase:250 LS Blue @ 4.00May 30:Inventory Balance: Long Sleeve Blue Shirts:195Inventory Balance: Short Sleeve Blue Shirts:124
Accounting - Inventory

Accounting - Inventory

Question # 00004545 Posted By: paul911 Updated on: 12/04/2013 01:39 AM Due on: 12/05/2013
Subject Accounting Topic Accounting Tutorials:
Question
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In this three-part assignment we will use a scenario about merchandise inventory and its corresponding data to perform perform various accounting tasks. Use both data files (attached) to complete the scenario outlined in the Comprehensive Problem 2 Directions file (attached).
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comprehensiveproblem2.docx (25 KB)
comprehensiveproblem2-periodicdata.docx (19.35 KB)
comprehensiveproblem2-perpetualdata.docx (28.34 KB)
Tutorials for this Question
  1. mac123
    Tutorial # 00004342 Posted By: mac123 Posted on: 12/04/2013 01:40 AM
    Puchased By: 15
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    The solution of Accounting - Inventory...
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    ts_1_solution.xlsx (14.65 KB)
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