Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
This topic contains 1 attachment.
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
H3Ko H3Ko
wrote...
Go to Answer
Posts: 4891
Rep: 45 0
7 years ago Edited: 5 years ago, bio_man
McClain Designs Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500.  During the month, McClain Designs purchased and sold merchandise on account as follows:

June 7   Purchase   25 sofas @ $750 each
     14   Sale   30 sofas @ 1,150 each
    18   Purchase   50 sofas @ $775 each
    27   Sale   35 sofas @ $1,200 each

Prepare a perpetual inventory record, using the weighted-average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. (Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar.)
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
Read 1117 times
4 Replies
Replies
Answer verified by a subject expert
TanksTanks
wrote...
#1
Top Poster
Posts: 1274
Rep: 237 0
7 years ago Edited: 5 years ago, bio_man
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
 Attached file 
Thumbnail(s):
You must login or register to gain access to this attachment.

Related Topics

H3Ko Author
wrote...
#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
wrote...
#3
4 years ago
ty
wrote...
#4
3 years ago
Thank you
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1018 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 55
  
 33
  
 26
Your Opinion
Which industry do you think artificial intelligence (AI) will impact the most?
Votes: 352
Previous poll results: Who's your favorite biologist?