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imvertory transactions: (Click the icon to view the inventory transactions.) Requitements 1. The preceding daya are taken from the shore's perpetual inventory records. Which cost method does the store use? Explain how you arrived at your answer. 2. Detemine the store's cost of goods scid for July. Also compute gross profs for July. 3. What is the cost of the store's July 31 inventory of water skis? for this difference? Requirement 1. Which cost method does the store use? Explain how you arrived at your answer. Waverly Sports uses This is opparent from the flow of costs out of inventory. For example, the July 13 sale shows urit cost worke Requirement 2. Determine the store's cost of goods soid for July. Also compute gross profit for July. The cost of goods sold is $ The gross profi for July is 5 Requirement 3. What is the cost of the store's July 31 imventory of water sist? The cost of the company's inventory at July 31 is Would it account for this di terence? The company would report ending inventory at? because the 1. The preceding data are taken from the stoce's pepotwal inventory records. Which cost method does the stote use? Explain how you artived at your answer. 2. Delermine the store's cost of goods sold for July. Also compule gross peofit for July. 3. What is the cost of the store's July 31 inventory of water swis? 4. Assume that ending invoriory declined by 3225 . What value would the compary report as inventory on the balance sheer? Include in your answer why it chose that value. How would it acon for this diterence? The gross proft for july is 1 Requirement 3. What is the cost of the store's July 31 inventory of water skis? The cost of the cempanys inventory at July 31 is 1 wotid it account for this differenon? The company would report ending invertory at $ because the requires inventory to be reported in the financial statements at Accourt for this difference by preparing the necessary journal entry. (Record debits first, then eredits. Explanations are not required.) ords. Which cost method does the store use? Explain how you arrived at your answer. profit for July. Inventory Transactions value would the company report as inventory on the balance sheet? Include in your answer why it chose that v requires inventory to be reported in the financial statements at Assume a Wavery Sports outet store began Juy 2020 weth 42 peirs of water skis that cost the store $38 each. The saie prce of thase water skis was $66. During Jidy, the store completed thase inventory transactions: (Click the icon to view the inventory transactions.) Requirements 1. The preceding data are taken from the stara's perpelual inventory recorts. Which cost method does the store use? Explain haw you arrived at your aniswer. 2. Determine the store's cost of goods sold for Julyi. Also compute gross proft for July. 3. What is the cost of the store's July 31 inventory of water skis? 4. Assume thet ending irventory declined by $225. What value would the compeny rapart as irvertary on the balance sheer? include in your answer why it chose that value. How would it accaizt for this difference? Requirement 1. Which cost mechod does the store use? Explain how you artived at your anewer. Waverty Sports uses This is apoarent from the fow of costs cut of imventory. For exampie, the July 13 sale shows unit coat works. The cost of goods soid is 1 The gross proft tor July is 1 Requirement 3. What is the cost of the store's dily 31 invertory of waser skis? The oast of the company/s inventory at July 31 is $ Requirement 4. Asseme that ending imentory decined by $225. What value would the company repert as irventory on the balance sheet? Indude in yeur answer why it chose that valive. Hew would it acoount for this ofference? Tha company would repot ending inventory at? bocause the requires inventory to be reported in the financial statements at The cost af goods sold is 1 The gross profit for July is 1 Requirement 3. What is the cost of the store's July 31 inventory of water skis? The cost of the company's inventory at July 31 is: Requirement 4. Assume that ending inventery declined by $225. What value would the company report as inventory on the balance sheet? include in your answer why it chote that value Haw would it account for this difference? The company would report ending inventory ats because the requires inventory to be reported in the financial statements at Account for this difference by preparing the necessary joumal entry. (Record debits first, then eredits. Explanations are not required.) the inventory transactions.) taken from the store's perpetual inventory records. Which cost method does the store use? Explain how you arriv Inventory Transactions imvertory transactions: (Click the icon to view the inventory transactions.) Requitements 1. The preceding daya are taken from the shore's perpetual inventory records. Which cost method does the store use? Explain how you arrived at your answer. 2. Detemine the store's cost of goods scid for July. Also compute gross profs for July. 3. What is the cost of the store's July 31 inventory of water skis? for this difference? Requirement 1. Which cost method does the store use? Explain how you arrived at your answer. Waverly Sports uses This is opparent from the flow of costs out of inventory. For example, the July 13 sale shows urit cost worke Requirement 2. Determine the store's cost of goods soid for July. Also compute gross profit for July. The cost of goods sold is $ The gross profi for July is 5 Requirement 3. What is the cost of the store's July 31 imventory of water sist? The cost of the company's inventory at July 31 is Would it account for this di terence? The company would report ending inventory at? because the 1. The preceding data are taken from the stoce's pepotwal inventory records. Which cost method does the stote use? Explain how you artived at your answer. 2. Delermine the store's cost of goods sold for July. Also compule gross peofit for July. 3. What is the cost of the store's July 31 inventory of water swis? 4. Assume that ending invoriory declined by 3225 . What value would the compary report as inventory on the balance sheer? Include in your answer why it chose that value. How would it acon for this diterence? The gross proft for july is 1 Requirement 3. What is the cost of the store's July 31 inventory of water skis? The cost of the cempanys inventory at July 31 is 1 wotid it account for this differenon? The company would report ending invertory at $ because the requires inventory to be reported in the financial statements at Accourt for this difference by preparing the necessary journal entry. (Record debits first, then eredits. Explanations are not required.) ords. Which cost method does the store use? Explain how you arrived at your answer. profit for July. Inventory Transactions value would the company report as inventory on the balance sheet? Include in your answer why it chose that v requires inventory to be reported in the financial statements at Assume a Wavery Sports outet store began Juy 2020 weth 42 peirs of water skis that cost the store $38 each. The saie prce of thase water skis was $66. During Jidy, the store completed thase inventory transactions: (Click the icon to view the inventory transactions.) Requirements 1. The preceding data are taken from the stara's perpelual inventory recorts. Which cost method does the store use? Explain haw you arrived at your aniswer. 2. Determine the store's cost of goods sold for Julyi. Also compute gross proft for July. 3. What is the cost of the store's July 31 inventory of water skis? 4. Assume thet ending irventory declined by $225. What value would the compeny rapart as irvertary on the balance sheer? include in your answer why it chose that value. How would it accaizt for this difference? Requirement 1. Which cost mechod does the store use? Explain how you artived at your anewer. Waverty Sports uses This is apoarent from the fow of costs cut of imventory. For exampie, the July 13 sale shows unit coat works. The cost of goods soid is 1 The gross proft tor July is 1 Requirement 3. What is the cost of the store's dily 31 invertory of waser skis? The oast of the company/s inventory at July 31 is $ Requirement 4. Asseme that ending imentory decined by $225. What value would the company repert as irventory on the balance sheet? Indude in yeur answer why it chose that valive. Hew would it acoount for this ofference? Tha company would repot ending inventory at? bocause the requires inventory to be reported in the financial statements at The cost af goods sold is 1 The gross profit for July is 1 Requirement 3. What is the cost of the store's July 31 inventory of water skis? The cost of the company's inventory at July 31 is: Requirement 4. Assume that ending inventery declined by $225. What value would the company report as inventory on the balance sheet? include in your answer why it chote that value Haw would it account for this difference? The company would report ending inventory ats because the requires inventory to be reported in the financial statements at Account for this difference by preparing the necessary joumal entry. (Record debits first, then eredits. Explanations are not required.) the inventory transactions.) taken from the store's perpetual inventory records. Which cost method does the store use? Explain how you arriv Inventory Transactions