5-Jan-09 bought on credit 10,000 barrels of crude oil for $600,000 15-Jan-09 bought...
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5-Jan-09 bought on credit 10,000 barrels of crude oil for $600,000 15-Jan-09 bought for cash 8,200 barrels of crude oil for $451,000 30-Mar-09 bought on credit 11,200 barrels of crude oil for $694,400 2-May-09 bought on credit 9,400 barrels of crude oil for $479,400 13-Jul-09 sold for cash 30,000 barrels of crude oil for $2,700,000 Create the journal entries and maintain the Inventory T-Acct based on the following transactions using the perpetual weighted average inventory method
5-Jan-09
bought on credit 10,000 barrels of crude oil for $600,000
15-Jan-09
bought for cash 8,200 barrels of crude oil for $451,000
30-Mar-09
bought on credit 11,200 barrels of crude oil for $694,400
2-May-09
bought on credit 9,400 barrels of crude oil for $479,400
13-Jul-09
sold for cash 30,000 barrels of crude oil for $2,700,000
Create the journal entries and maintain the Inventory T-Acct based on the following transactions using the perpetual weighted average inventory method
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