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In its first month of operations, Coronado Company made three purchases of merchandise in the following sequence:
(1) 300 units at $6
(2) 500 units at $7
(3) 200 units at $8.
Average unit cost: $ 6.90
Problem 1: Compute the cost of the ending inventory under the average-cost method, assuming there are 360 units on hand. (Round answer to 0 decimal places, e.g. 1,250.)
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The cash register total including sales taxes is $46,830, and the sales tax rate is 5%. What is the sales taxes payable
Use this information to make all General Journal entries (without explanation) required to record the events for December 31, 2018
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