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Cindy corporation is on the accrual basis of GAAP. They use the Perpetual LIFO Costing-Inventory system but is on FIFO for physical flows. Cindy records inventory purchases to track discounts taken and records sales transactions to track offered discounts Sales information 1. 2. 3" For all of the Dell-computers: Cindy's sales mark-up is to arrive at a sales price per unit that is 237% of Cindy's recorded cost of the computers For all of the Sony screens: Cindy's sales mark-up is to arrive at a sales price that adds 113% of Cindy's recorded cost to the AlS recorded cost to arrive at the final sales price For all of iPhones: 85% of Cindy's sales price should be the recorded cost of the iPhones Inventory Balances Inventory Dell Computers -WBG111 Sony Screens - WBG112 iPhones - WBG114 Dell Computers - WBG404 Sony Screens - WBG409 iPhones WBG410 WBG62 Value $16,449.25 January 1 $12,650.40 January 1 $3,197.88 $55,246.85 January 2 $29,399.00 January 2 $3,167.56 January 2 $188,208.00 January 3 Number Of Units Purchase Date 25 45 36 64 100 January1 Bulk Purchase [ Journalize the following transactions: From retail customers (first six transactions) February 10: Received order from Kelly for 32 Dell Computers and 53 Sony screens February 11: Received order from John for 12 iPhones February 12: Received order from Mike for 31 Dell Computers and 9 iPhones The following sales are made from retail customers December 10: Cassandra, 1 Dell Computer and 10 Sony screens December 11: Grace, 3 iPhones December 31: Kai, 4 Dell Computers Nothing is paid/received on these december transactions, only record sales For all retail customers The terms are: [1.5/10, n30 [2.5;3pa/90]] Non-retail customer February 22: Shaqif purchases 8 Dell Computers, 48 Sony Screens & 35 iPhones. The mark-up is 27% of the mark-up percentage profile above of the retail customers. The terms are 4/15, n60 During the year, Cindy sells $72771.60 (Cash sales) of WBG623

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