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Hello I need assistance on my accounting assignment...the assignment is in an excel file along with the directions there is 10 questions. Please be sure that it can print neatly one page!!! i dont want the paper to print horizontal and split the data on separate sheets it needs to be organized. Thank you!
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Morgan State University
Chapter 5 Take-Home Project
Inventory Cost Flow
*Effect of Inventory cost flow on Ending Inventory Balance and Gross Margin:
Sports Apparel, Inc. had the following transactions for jackets in 2015, its first year of operations:
Jan. 20
Apr. 21
Aug. 25
Nov. 19
NOTE:
Purchased 80 units @ $15
Purchased 420 units @ $16
Purchased 250 units @ $20
Purchased 150 units @ $22
$ 1,200.00
6,720.00
5,000.00
3,300.00
During the year, Sports Apparel, Inc. sold 830 jackets for $40 each.
Questions:Please show all computations to support your answers. There will be no partial
credit for any answer with no supporting computations.
Based on the above information;
1. How many goods were available for sale and how much?
Goods available for sale is equal to the total goods purchased
Date
Purchased Units
Cost per Unit $
Total purchase cost $
Jan. 20
80
15
1200
Apr. 21
420
16
6720
Aug. 25
250
20
5000
Nov. 19
150
22
3300
Total
900
16,220
The total goods available for sale were 900 jackets worth 16,220
Date
Closing stock
Cost per unit
total
Jan. 20
20
15
300
Apr. 21
20
16
3...
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