Chpt 6:  Harper Hawk Inc. has the following inventory data:…

Chpt 6:  Harper Hawk Inc. has the following inventory data: Date Accounting Activity Units Unit Price $ Total $ July 1 Beginning inventory 50 $120 $6,000 July 5 Purchases 300 $112 $33,600 Juy14 Sale 200 ? ? July 21 Purchases 150 $115 $17,250 July 30 Sale 140 ? ? Assuming that a periodic inventory system is used, what is the cost of goods sold on a LIFO basis?

Chpt 5:  Harper’s accounting records show the following for…

Chpt 5:  Harper’s accounting records show the following for the year ending on December 31, 2024.  What is the cost of goods purchased? Accounting Category $ Amount Purchase Discounts $    11,200 Freight-In 15,600 Purchases 700,020 Beginning Inventory 47,000 Ending Inventory 57,600 Purchase Returns and Allowances 12,800

Chpt 5:  Financial information is presented below.  What is…

Chpt 5:  Financial information is presented below.  What is the amount of net sales on the income statement? Accounting Category $ Amount Operating expenses $ 45,000 Sales returns and allowances 3,000 Sales discounts 7,000 Sales revenue 160,000 Cost of goods sold 96,000