Week 2 Date Transaction description 9 Purchased 14 Specialist Tennis Raquets fro
ID: 2521489 • Letter: W
Question
Week 2
Date
Transaction description
9
Purchased 14 Specialist Tennis Raquets from Addax Sports for $232 each, terms net 30.
10
Mick's Sporting Goods paid the full amount owing on their account. Since Mick's Sporting Goods has been a loyal customer from the day the business commenced, a 10% discount was given for this early repayment.
11
Paid the full amount owing to Sports 'R Us, Check No. 873. Payment fell outside discount period.
11
Paid the full amount owing to Hike, Check No. 874.
11
Sold 18 pairs of Football Boots to The Locker Room for $336 each, Invoice No. 383.
11
Paid sales staff wages of $2,388 for the week up to and including yesterday, Check No. 875.
13
Paid the full amount owing to Sport Borders, Check No. 876.
13
Made cash sale of 25 sets of Sting Ray Golf Clubs for $648 each.
INVENTORY CARDS
Sets Of Sting Ray Golf Clubs
Date
Purchases
Cost of Goods Sold
Balance
Units
Unit Cost
($)
Total Cost
($)
Units
Unit Cost
($)
Total Cost
($)
Units
Unit Cost
($)
Total Cost
($)
May
31
39
288
11232
15
376
5640
Jun
Jun
Jun
Jun
(Q=430.Inventory3_week2)
Pairs Of Football Boots
Date
Purchases
Cost of Goods Sold
Balance
Units
Unit Cost
($)
Total Cost
($)
Units
Unit Cost
($)
Total Cost
($)
Units
Unit Cost
($)
Total Cost
($)
May
31
75
192
14400
Jun
Jun
Jun
Jun
(Q=430.Inventory5_week2)
Specialist Tennis Raquets
Date
Purchases
Cost of Goods Sold
Balance
Units
Unit Cost
($)
Total Cost
($)
Units
Unit Cost
($)
Total Cost
($)
Units
Unit Cost
($)
Total Cost
($)
May
31
66
232
15312
Jun
Jun
Jun
Jun
Week 2
Date
Transaction description
9
Purchased 14 Specialist Tennis Raquets from Addax Sports for $232 each, terms net 30.
10
Mick's Sporting Goods paid the full amount owing on their account. Since Mick's Sporting Goods has been a loyal customer from the day the business commenced, a 10% discount was given for this early repayment.
11
Paid the full amount owing to Sports 'R Us, Check No. 873. Payment fell outside discount period.
11
Paid the full amount owing to Hike, Check No. 874.
11
Sold 18 pairs of Football Boots to The Locker Room for $336 each, Invoice No. 383.
11
Paid sales staff wages of $2,388 for the week up to and including yesterday, Check No. 875.
13
Paid the full amount owing to Sport Borders, Check No. 876.
13
Made cash sale of 25 sets of Sting Ray Golf Clubs for $648 each.
Explanation / Answer
Asssumed fifo method
Sting ray golf clubs particulars Purchases COGS balance No. of Units unit Cost Value No. of Units unit cost Value No. of Units unit cost Value 31-May 39 $288 $11,232 15 $376 $5,640 13-Jun 25 $288 $7,200 14 $288 $4,032 15 $376 $5,640Related Questions
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