Determine the cost of merchandise sold

Assignment Help Accounting Basics
Reference no: EM13833716

Enter the appropriate amount or item in the shaded cells.

If the Total Cost of the inventory is incorrect for any date, an asterisk (*) will appear ONLY to the right of column K, "Total Cost."

1. Complete the table below to determine the Cost of Merchandise Sold and the balance of ending inventory.

 


Date

Purchases

Cost of Merchandise Sold

Inventory


Quantity

Unit Cost

Total Cost

Quantity

Unit Cost

Total Cost

Quantity

Unit Cost

Total Cost



Jan. 1

 

 

 

 

 

 

50

 $       20

 $      1,000


7

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 


20

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 


30

 

 

 

 

 

 

 

 

 


Feb. 8

 

 

 

 

 

 

 

 

 


10

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 


27

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 


28

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 


Mar. 5

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 


13

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 


23

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 


30

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 


31

Balances

 

 

 

 

 

 

 

 


1. Total cost of merchandise sold:

2. Gross Profit for the sales period:

3. Ending Inventory Cost:

Reference no: EM13833716

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