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Accounting Chapter 6 Homework Inventory under LIFO would be
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February 2, 2023
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An asterisk (*) w
ill appear to t
he right of an incor
rect entry
. In part 1
, only final inventory
cost – Column K – w
ill be g
raded.
1.
Apr. 3
25
$1,200
30,000
$
8
11
30
May 8
10
19
28
June 5
16
21
28
30
Balances
2.
Debit Credit
3.
4.
5.
Score:
Key Code:
Answ
ers are ente
red in the cells w
ith gr
ay background
s.
Unit
Cost
Total
Cost
Cells with non
-gray back
grounds a
re protected
and can
not be e
dited.
Description
Total
Cost
Quantit
y
Inve
ntory
Instructions
Unit
Cost
Gross profit for the sales
period
Quantit
y
Ending inventory
cost
Date
Purchases
Cost of M
erchandise
Sold
Inventory u
nder LIFO w
ould
be
Quantit
y
Unit
Cost
Total
Cost
JOURNA
L
Problem 6-1B
Name:
Section:
0%
[Key code here]
1.
Apr. 3
25
$1,200
30,000
$
2.
Debit Credit
525,250
Cost of Merchand
ise Sold
Gross profit for the sales pe
riod
Cells w
ith no
n-gray back
grounds are protected and cannot be edited.
An asterisk (*) will appea
r to the right of an incorre
ct entry. In part 1, on
ly
final invento
ry cost – Col
umn K – will be graded
.
Scoring:
Instructions
Answers are entered
in the cells with gray
backgroun
ds.
Accounts Recei
vable
JOURNA
L
Description
Problem 6-1B
Name:
Solution
Section:
ON
Unit
Cost
Total
Cost
Unit
Cost
Total
Cost
Quantity
Unit
Cost
Total
Cost
Quantity
Date
Purchases
Cost of Merchandise Sold
Inve
ntory
Quantity