Prepare new tech cycles perpetual inventory record

Assignment Help Accounting Basics

Reference no: EM133901303

Problem

New Tech Cycles started March with 1515 bicycles that cost $ 54$54 each. On March 16, New Tech purchased 3030 bicycles at $ 78$78 each. On March 31, New Tech sold 2828 bicycles for $ 90$90 each.

Task

I. Prepare New Tech Cycle's perpetual inventory record assuming the company uses the weighted-average inventory costing method. Get the instant assignment help.

II. Journalize the March 16 purchase of merchandise inventory on account and the March 31 sale of merchandise inventory on account.

Reference no: EM133901303

Questions Cloud

How an initiative could be implemented : How an initiative could be implemented in different contexts and for different purposes to ensure the investment remains a viable and positive asset

What is the amount of nolans excess business loss : What is the amount of Nolan's excess business loss? How is the excess business loss treated? What is the amount of Nolan's excess business loss?

Which is the best recommendation to help the audit committee : Juke Industries Co. (Juke) has an audit committee that meets regularly. Which is the BEST recommendation to help the audit committee meet its responsibilities?

Legal system and practice of forensic psychology : Explain the conflicts between the legal system and the practice of forensic psychology including the challenges associated with integrating the approaches.

Prepare new tech cycles perpetual inventory record : Prepare New Tech Cycle's perpetual inventory record assuming the company uses the weighted-average inventory costing method.

Delivery business that delivered goods to retail stores : John Doe owns a delivery business that delivered goods to retail stores. The government remote disabled Doe's delivery vehicles.

Connection with supply-possible supply of goods or services : Connection with the supply or possible supply of goods or services or with the promotion by any means of the supply or use of goods or services.

Identify one government contract opportunity : Identify one government contract opportunity from the Contract OpportunitiesLinks to an external site. webpage that aligns with your nonprofit

Prepare the necessary closing entries : AP Presented below is selected information related to Garland Co. for the year ended January 31, 2022. Prepare the necessary closing entries.

User Account

All Pages