1.

) Inventory per books 30,500

Add: Shipment Rec 10,000
TV's On Hand 6,100
Total 46,600
Less: TV Rec. Twice 4,600
TV Shipped 12/28/04 15,000
Correct Inventory 27,000

A. No entry
B Cost of sale 10000
Inventory 10000

C Inventory 4600
Cost of sale 4600

D Inventory 15000
Cost of sale 15000

E Cost of sale 6100

Inventory 6100

2.) A. Mechandise Inventory 1176

Accounts Payable 1176

B. Accounts Payable 1176

Purchase Discount lost 24
Cash 1200

3.) June 1Purchases 8820

Accounts Payable 8820

15 Accounts Payable 980

Purchases Returns 980

30 Purchase Discount lost 160

Accounts Payable 160

4.) 700 at 30 21000

300 at 35 10500
Total 31500
 Beginning balance 1400
Purchases 1500
Total units available 2900
Less: Sales 1900
Ending Inventory 1000 units

5.) Inventory, January 1 62000

Purchases 114000
Cost of goods available for sale 176000
Sales 90000
Less: Groos Profit (90000 × 40%) 36000
Net sales 54000
Ending Inventory, May 17 122000
Physical count Inventory, May 17 55000
Theft Loss 67000

6.) 1 Beginning Inventory 147800

Add: Purchases 295000
Freight-in 8200
Less: Purchase Returns 16600
Total (Goods available for sale) 434400
Less: Cost of goods sold (486400 × 75 %) 364800
Inventory lost in Fire 69600

2 Beginning Inventory 147800

Add: Purchases 295000
Freight-in 8200
Less: Purchase Returns 16600
Goods available for sale 434400
Less: Cost of goods sold (486400 ÷ 1.28) 380000
Inventory lost in Fire 54400