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

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