In: Accounting
Question 1) Huang provides the following information relating to its July inventory activity. Huang uses a perpetual inventory system.
Date |
Transaction |
Units |
Unit Cost |
Total Cost |
1st |
Inventory |
13 |
$8 |
$104 |
7th |
Purchase |
22 |
$9.50 |
$209 |
12th |
Sale |
20 |
||
18th |
Purchase |
10 |
$10.25 |
$102.50 |
20th |
Sale |
14 |
||
26th |
Purchase |
16 |
$11 |
176 |
30th |
Sale |
15 |
The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and format. For detailed answer refer to the supporting sheet.