An entity is a wholesaler of officesupplies. The activity for Model IIIcalculators during July is shownbelow. If the entity uses average costmethod, the ending inventory ofModel IIII calculators at July 31 isreported asDateBalance/TransactionsUnitsCostJuly 1Inventory2,000P36.007Purchases3,00037.2012Sales3,60021Purchases5,00037.8822Sale3,80029Purchases1,60038.11Your answer

Name: An entity is a wholesaler of officesupplies. The activity for Model I
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Description: An entity is a wholesaler of officesupplies. The activity for Model IIIcalculators during July is shownbelow. If the entity uses average costmethod, the ending inventory ofModel IIII calculators at July 31 isreported asDateBalance/TransactionsUnitsC

Average Cost method is per unit cost of production obtained by dividing the total cost by the total…

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An entity is a wholesaler of office supplies. The activity for Model II calculators during July is shown below. If the entity uses average cost method, the ending inventory of Model III calculators at July 31 is reported as Balance/Transactions Inventory Purchases Date Units Cost July 1 2,000 P36.00 7 3,000 37.20 12 Sales 3,600 21 Purchases 5,000 37.88 22 Sale 3,800 29 Purchases 1,600 38.11

An entity is a wholesaler of office supplies. The activity for Model II calculators during July is shown below. If the entity uses average cost method, the ending inventory of Model III calculators at July 31 is reported as Balance/Transactions Inventory Purchases Date Units Cost July 1 2,000 P36.00 7 3,000 37.20 12 Sales 3,600 21 Purchases 5,000 37.88 22 Sale 3,800 29 Purchases 1,600 38.11

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 3PA: Trini Company had the following transactions for the month. Calculate the cost of goods sold dollar...

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