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Create the journal entries and maintain the Inventory T-Acct basedon the
followingtransactions using the perpetual weighted average
inventorymethod

9.1	5-Jan-09	bought on credit 10,000 barrels of crude oil for $600,000
	15-Jan-09	bought forcash 8,200 barrels of crude oil for $451,000
	30-Mar-09	bought oncredit 11,200 barrels of crude oil for $694,400
	2-May-09	bought oncredit 9,400 barrels of crude oil for $479,400
	13-Jul-09	sold forcash 30,000 barrels of crude oil for $2,700,000

(check figure: perpetual weighted average inventory balance =504,594)

9.2

Amiras Corporation began operations on January 1, 2014, with abeginning inventory of $30,100.00 at cost and $50,000.00 atretail.

Thefollowing information relates to 2014:

Net purchases		Cost: $108,500.00; Retail: $150,000.00
Netmarkups		$   10,000.00
Netmarkdowns		$     5,000.00
Sales		$126,900.00

Compute the ending inventory using the LIFO Retail Method

(check figure: ending balance = $49,770.00)

Compute the ending inventory using Dollar-Value LIFO RetailMethod
Price Indexis 1.10

(check figure: ending balance = $46,270.00)

9.3	An area of trees were cut and sold to a lumber saw mill for$350,000.00
	Threegrades of lumber were able to be identified from the trees thatwere cut:
	320,000feet of Grade A lumber appraised at $140,000.00
	492,000feet of Grade B lumber appraised at $157,440.00
	554,000feet of Grade C lumber appraised at $105,260.00

What will be the general journal to record this purchase and whatis the price per foot
paid foreach grade of lumber?

(check figure: total price paid for Grade C lumber =91,484.98)