I-08.03 Worksheet

I-08.03 Worksheet - (c) GENERAL JOURNAL Date Accounts Debit...

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Name: Date: Section: I-08.03(a,b) (a) FIFO PERPETUAL: Date Purchases Sales Cost of Goods Sold Balance 1-Jan 5,000 X $20 = $100,000 5-Jan 7,000 X $21 = $147,000 12-Jan 9,000 @ $35 = $315,000 17-Jan 4,000 X $22 = $ 88,000 26-Jan 3,000 @ $37 = $111,000 31-Jan (b) MOVING AVERAGE: Date Purchases Sales Cost of Goods Sold Balance 1-Jan 5,000 X $20 = $100,000 5-Jan 7,000 X $21 = $147,000 12-Jan 9,000 @ $35 = $315,000 17-Jan 4,000 X $22 = $ 88,000 26-Jan 3,000 @ $37 = $111,000 31-Jan
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Name: Date: Section: I-08.03(c-f)
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Unformatted text preview: (c) GENERAL JOURNAL Date Accounts Debit Credit 7-Jan Purchased $147,000 of inventory on account (7,000 X $21) 12-Jan Sold merchandise on account (9,000 X $35) 12-Jan To record the cost of merchandise sold 17-Jan Purchased $88,000 of inventory on account (4,000 X $22) 26-Jan Sold merchandise on account (3,000 X $37) 26-Jan To record the cost of merchandise sold 1 of 2 Name: Date: Section: I-08.03(c-f) (d) (e) (f) 2 of 2...
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.

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I-08.03 Worksheet - (c) GENERAL JOURNAL Date Accounts Debit...

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