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 130 units @$ 7.50 $ 60 units @$16.00- 350 units @s 6.80 120 units @$16.00 = 600 units @s 6.60- 550 units es 6.50- 750 units @$16.00- 975.00 960.00 2,380.00 1,920.00 3,960.00 3,575.00 12,000.00
Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold. July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 130 units @$ 7.50 $ 60 units @$16.00- 350 units @s 6.80 120 units @$16.00 = 600 units @s 6.60- 550 units es 6.50- 750 units @$16.00- 975.00 960.00 2,380.00 1,920.00 3,960.00 3,575.00 12,000.00
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterC: Inventory Methods
Section: Chapter Questions
Problem 1P: Bean Nursery sells bark to its customers at retail. Bean buys bark from a plywood mill in bulk and...
Related questions
Topic Video
Question
Subject :- Accounting
Transcribed Image Text:Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular
product in 2023 as follows:
Jan. 1 Beginning inventory
Jan. 10 Sold
Mar-
7 Purchased
Mar. 15 Sold
July 28 Purchased
Oct. 3 Purchased
Oct.
5 Sold
Total goods available for sale.
3
130 units @$ 7.50
60 units @$16.00 =
350 units @$ 6.80-
120 units @$16.00 =
600 units @$ 6.60.
550 units @s 6.50
750 units @$16.00-
Required:
1. Calculate the total goods available for sale (in units and cost).
Number of units sold
975.00
960.00
2,380.00
1,920.00
3,960.00
3,575.00
12,000.00
Units
Cost
2. Calculate the number of units sold and units remaining in ending inventory.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning