Question

Week 4
Date	Transaction description
22	Sold 90 Specialist Tennis Raquets to Jump Around for $408 each, Invoice No. 385.
25	The Locker Room paid the full amount owing on their account.
25	Paid sales staff wages of $2,037 for the week up to and including yesterday, Check No. 878.
25	Ordered 16 Specialist Tennis Raquets from Extreme Sports Inc for $280 each. Agreed terms with Extreme Sports Inc are 2/10, n/30.
27	Delivered 40 Quidditch Snitches to Balls 'n All for $752 each, Invoice No. 386. These items were ordered on the 19th.
27	Made cash sale of 60 pairs of Football Boots for $336 each.
28	Paid the full amount owing to Hike, Check No. 879. Payment fell outside discount period.
28	Returned 8 faulty sets of Sting Ray Golf Clubs, originally purchased for $376 each, to Sport Borders. Received a Credit Note for $3,008. Week 5 29 Received 16 Specialist Tennis Raquets for $280 each, which were ordered on the 25th. Agreed terms with Extreme Sports Inc are 2/10, n/30. 29 Made cash sale of 31 sets of Sting Ray Golf Clubs for $648 each. 30 Croquet and Cricket paid the full amount owing on their account. 30 Purchased 18 MJO Basketball Sets with cash for a list price of $320 each. A trade discount of 25% applies, Check No. 880. 30 Paid monthly salary of $4,600 to Sebastian Curie, Check No. 881

(Q=610-110-3.AcctsRec3_week4)

INVENTORY CARDS

Sets Of Sting Ray Golf Clubs

Date		Purchases			Cost of Goods Sold			Balance
		Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)
May	31							39	288	11232
								15	376	5640
Jun	13				25	288	7200	14	288	4032
								15	376	5640
Jun	15	13	376	4888				14	288	4032
								28	376	10528
Jun
Jun
Jun
Jun

(Q=630.Inventory3_week4)

Pairs Of Football Boots

Date		Purchases			Cost of Goods Sold			Balance
		Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)
May	31							75	192	14400
Jun	11				18	192	3456	57	192	10944
Jun	20				-8	192	-1536	65	192	12480
Jun
Jun
Jun
Jun

(Q=630.Inventory4_week4)

Quidditch Snitches

Date		Purchases			Cost of Goods Sold			Balance
		Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)
May	31							33	360	11880
								19	416	7904
Jun	17				3	360	1080	30	360	10800
								19	416	7904
Jun
Jun
Jun
Jun

(Q=630.Inventory5_week4)

Specialist Tennis Raquets

Date		Purchases			Cost of Goods Sold			Balance
		Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)
May	31							66	232	15312
Jun	9	14	232	3248				80	232	18560
Jun	17	11	280	3080				80	232	18560
								11	280	3080
Jun
Jun
Jun
Jun

Answer 1

The assumptions used in the question are we have used FIFO method as nothing is mentioned

Sets Of Sting Ray Golf Clubs

Date		Purchases			Cost of Goods Sold			Balance
		Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)
May	31							39	288	11232
								15	376	5640
Jun	13				25	288	7200	14	288	4032
								15	376	5640
Jun	15	13	376	4888				14	288	4032
								28	376	10528
Jun	28				8	376	3008	14	288	4032
								20	376	7520
Jun	29				14	288	4032
					17	376	4392	3	376	1128

(Q=630.Inventory3_week4)

Pairs Of Football Boots

Date		Purchases			Cost of Goods Sold			Balance
		Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)
May	31							75	192	14400
Jun	11				18	192	3456	57	192	10944
Jun	20				-8	192	-1536	65	192	12480
Jun	30	18	240	4320				65	192	12480
								18	240	4320
Jun
Jun
Jun

(Q=630.Inventory4_week4)

Quidditch Snitches

Date		Purchases			Cost of Goods Sold			Balance
		Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)
May	31							33	360	11880
								19	416	7904
Jun	17				3	360	1080	30	360	10800
								19	416	7904
Jun	27				30	360	10,800
					10	416	4160	9	416	3744
Jun
Jun
Jun

(Q=630.Inventory5_week4)

Specialist Tennis Raquets

Date		Purchases			Cost of Goods Sold			Balance
		Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)	Units	Unit Cost ($)	Total Cost ($)
May	31							66	232	15312
Jun	9	14	232	3248				80	232	18560
Jun	17	11	280	3080				80	232	18560
								11	280	3080
Jun	22				80	232	18560
					10	280	2800	1	280	280
Jun	29	16	280	4480				17	280	4760
Jun