Perpetual Inventory (FIFO)

Purchases Cost of Merchandise Sold

Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity
Apr-02 100 5 500 100
4 400 5.10 2,040 400
5 100 5.00 500
200 5.10 1,020 200
11 300 5.30 1,590 300
12 200 5.10 1,020
18 200 5.35 1,070 200
26 600 5.60 3,360 600
1600 8560 300 5.30 1,590
200 5.35 1,070
300 5.60 1,680 300
30 150 5.60 840 150

May-01 150
2 200 5.80 1,160 200
2 100 5 500 100
4 400 5.10 2,040 400
6 150 5.60 840.00 50
150 5.80 870 100
400
11 300 5.30 1,590 300
12 50 5.80 290
100 5 500.00
50 5.10 255.00 350
18 200 5.35 1,070 300
26 600 5.60 3,360 200
27 350 5.10 1,785 600
300 5.30 1,590
150 5.35 802.5 50
30 50 5.35 267.50 600
100 5.60 560 500
 Inventory Journal
Date Description Debit
Inventory
Unit Cost Total Cost Apr-05 Cost of merchandise inventory 1,520
5 500 Merchandise inventory
5.10 2,040 Record cost of merchandise sold
12 Cost of merchandise sold 1,020
5.10 1,020 Merchandise inventory
5.30 1,590 Record cost of merchandise sold
27 Cost of merchandise sold 4,340
5.35 1,070 Merchandise inventory
5.60 3,360 Recorded cost of merchandise sold
30 Cost of merchandise sold 840
Merchandise inventory
5.60 1,680 Record cost of merchandise sold
5.60 840
May-06 Cost of merchandise sold 1,710
5.60 840 Merchandise inventory
5.80 1,160 Recorded cost of merchandise sold
5 500 12 Cost of merchandise sold 1,045
5.10 2,040 Merchandise inventory
5.80 290 Recorded cost of merchandise sold
5 500 27 Cost of merchandise sold 4,178
5.10 2,040 Merchandise inventory
5.30 1,590 Record cost of merchandise sold
30 Cost of merchandise sold 828.00
Merchandise inventory
5.10 1,785 Record cost of merchandise sold
5.30 1,590
5.35 1,070
5.60 3,360

5.35 267.5
5.60 3,360
5.60 2,800
 Perpetual Inventory (LIFO)
Credit
Purchases Cost of Merchandise Sold
Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost
1,520 Apr-02 100 5 500
4 400 5.10 2,040
5 300 5.10 1,530
1,020
11 300 5.30 1,590
12 200 5.30 1,060
4,340

18 200 5.35 1,070

840 26 600 5.60 3,360
27 600 5.60 3,360
200 5.35 1,070

1,710 30 100 5.30 530

50 5.10 255

1,045 May-01

May-02 200 5.80 1,160

4,178 2 100 5 500
4 400 5.10 2,040
6 300 5.10 1,530
828

11 300 5.30 1,590

12 200 5.30 1,060

18 200 5.35 1,070

26 600 5.60 3,360
27 600 5.60 3,360
200 5.35 1,070

30 100 5.30 530.00

50 5.10 255
 Inventory Journal
Date Description
Inventory
Total Cost Quantity Unit Cost Total Cost Apr-05 Cost of merchandise inventory
100 5 500 Merchandise inventory
400 5.10 2,040 Record cost of merchandise sold
100 5 500 12 Cost of merchandise sold
100 5.10 510 Merchandise inventory
300 5.30 1,590 Record cost of merchandise sold
100 5 500 27 Cost of merchandise sold
100 5.10 510 Merchandise inventory
100 5.30 530 Recorded cost of merchandise sold
200 5.35 1,070 30 Cost of merchandise sold
600 5.60 3,360 Merchandise inventory
100 5 500 Record cost of merchandise sold
100 5.10 510
100 5.30 530 May-06 Cost of merchandise sold
100 5 500 Merchandise inventory
50 5.10 255 Recorded cost of merchandise sold
12 Cost of merchandise sold
100 5 500 Merchandise inventory
50 5.10 255 Recorded cost of merchandise sold
200 5.80 1,160 27 Cost of merchandise sold
100 5 500 Merchandise inventory
400 5.10 2,040 Record cost of merchandise sold
100 5 500 30 Cost of merchandise sold
50 5.10 255 Merchandise inventory
200 5.80 1,160 Record cost of merchandise sold
100 5 500
100 5.10 510
300 5.30 1,590
100 5 500
50 5.10 255
200 5.80 1,160
100 5 500
100 5.10 510
100 5.30 530
200 5.35 1,070
600 5.60 3,360
100 5 500
50 5.10 255
200 5.80 1,160
100 5 500
100 5.10 510
100 5.30 530
100 5 500
50 5.10 255
200 5.80 1,160
100 5 500
50 5.10 255
 Perpetual Inventory (WEIGHTED AVERAGE)
Debit Credit
Purchases Cost of Merchandise Sold
1,530 Date Quantity Unit Cost Total Cost Quantity Unit Cost
1,530 Apr-02 100 5 500
4 400 5.10 2,040
1,060 5 300 5.08
1,060 11 300 5.30 1,590
12 200 5.21
4,430 18 200 5.35 1,070
4,430 26 600 5.60 3,360
27 1600 5.35 8560 800 5.45
785 30 150 5.45
785 May-01
May-02 200 5.80 1,160
2 100 5 500
1,530 4 400 5.10 2,040
1,530 6 300 5.34
11 300 5.30 1,590
1,060 12 200 5.33
1,060 18 200 5.35 1,070
26 600 5.60 3,360
4,430 27 800 5.45
4,430 30 150 5.45

785
785
 Inventory Journal
Date
of Merchandise Sold Inventory
Total Cost Quantity Unit Cost Total Cost Apr-05
100 5 500
500 5.08 2,540
1,530 200 5.08 1,016 12
500 5.21 2,605
1,042 300 5.21 1,563
500 5.27 2,635 27
1,100 5.45 5,995
4,360 300 5.45 1,635
818.00 150 5.45 818 30
150 5.45 818
350 5.65 1,977.50
450 5.55 2,497.50
850 5.34 4,539 May-06
1,602 550 5.34 2,937
850 5.33 4,530.50
1,066 650 5.33 3,465 12
850 5.34 4,539
1,450 5.45 7,902.50
4,360 650 5.45 3542.5 27
817.50 500 5.45 2,725

30
Inventory Journal Perpetual Inventory
Description Debit Credit

Cost of merchandise inventory 1,530 Date

Merchandise inventory 1,530 Apr-02
Record cost of merchandise sold 4
Cost of merchandise sold 1,042 5
Merchandise inventory 1,042
Record cost of merchandise sold 11
Cost of merchandise sold 4,360 12
Merchandise inventory 4,360
Recorded cost of merchandise sold 18
Cost of merchandise sold 818 26
Merchandise inventory 818 27
Record cost of merchandise sold

Cost of merchandise sold 1,602 30

Merchandise inventory 1,602
Recorded cost of merchandise sold May-01
Cost of merchandise sold 1,066
Merchandise inventory 1,066 2
Recorded cost of merchandise sold 2
Cost of merchandise sold 4,360 4
Merchandise inventory 4,360 6
Record cost of merchandise sold
Cost of merchandise sold 818
Merchandise inventory 818
Record cost of merchandise sold
11
12

18
26
27

30
 (FIFO)

Purchases Cost of Merchandise Sold Inventory

Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost
100 5 500 100 5
400 5.10 2,040 400 5.10
300 5.10 1,530 100 5
100 5.10
300 5.30 1,590 300 5.30
100 5.10 510 100 5
100 5.30 530 200 5.30
200 5.35 1,070 200 5.35
600 5.60 3,360 600 5.60
200 5.30 1,060
200 5.35 1,070 100 5
400 5.60 2,240 200 5.60
150 5.60 840 100 5
50 5.60
100 5
50 5.60
200 5.80 1,160 200 5.80
100 5 500 100 5
400 5.10 2,040 400 5.10
100 5.00 500
50 5.60 280
150 5.80 870 50 5.80
100 5
400 5.10
300 5.30 1,590 300 5.30
50 5.80 290
100 5 500 350 5.10
50 5.10 255 300 5.30
200 5.35 1,070 200 5.35
600 5.60 3,360 600 5.60
350 5.10 1,785
300 5.30 1,590 200 5.35
150 5.60 840 450 5.60
150 5.60 840 200 5.35
300 5.60
 Inventory Journal
Date Description Debit Credit

Total Cost Apr-05 Cost of merchandise inventory 1,530

500 Merchandise inventory 1,530
2,040 Record cost of merchandise sold
500 12 Cost of merchandise sold 1,040
510 Merchandise inventory 1,040
1,590 Record cost of merchandise sold
500 27 Cost of merchandise sold 4,370
1,060 Merchandise inventory 4,370
1,070 Recorded cost of merchandise sold
3,360 30 Cost of merchandise sold 840
Merchandise inventory 840
500 Record cost of merchandise sold
1,120
500 May-06 Cost of merchandise sold 1,650
280 Merchandise inventory 1,650
500 Recorded cost of merchandise sold
280 12 Cost of merchandise sold 1,045
1,160 Merchandise inventory 1,045
500 Recorded cost of merchandise sold
2,040 27 Cost of merchandise sold 4,215
Merchandise inventory 4,215
Record cost of merchandise sold
290 30 Cost of merchandise sold 840
500 Merchandise inventory 840
2,040 Record cost of merchandise sold
1,590

1,785
1,590
1,070
3,360

1,070
2,520
1,070
1,680
General Journal
Date Description Debit Credit
Apr-01 Cash 20,000.0
Ramos, Capital 20,000.0
To record initial investment of the owner
2 Prepaid rent 2,250.0
Cash 2,250.0
Paid three-month rent on cash
2 Store signage 500.0
Cash 500.0
Paid store signage installation on cash
2 Merchandise inventory 500.0
Accounts payable-Samsung 500.0
Purchased merchandise on account
2 Merchandise inventory 10.0
Accounts payable-Samsung 10.0
Paid shipping cost of purchased merchandise on account
3 Supplies-Sales invoice document 150.0
Cash 150.0
Purchased sales invoice document on cash
3 Store equipment-Store shelves 2,000.0
Store equipment-Air conditioning unit 1,500.0
Cash 3,500.0
Purchased store equipment on cash
4 Merchandise inventory 2,040.0
Accounts payable-Samsung 2,040.0
Purchased merchandise on account
4 Merchandise inventory 20.0
Accounts payable-Samsung 20.0
Paid shipping cost of purchased merchandise on account
5 Prepaid insurance 300.0
Cash 300.0
Paid three-month insurance on cash
5 Cash 4,500.0
Sales 4,500.0
Sold merchandise to Siri
5 Sales discount 45.0
Cash 45.0
Grant sales dicount to Siri
5 Cost of merchandise sold 1,530.0
Merchandise inventory 1,530.0
Record cost of merchandise sold- SPECIFIC IDENTIFICATION
5 Cost of merchandise sold 1,520.0
Merchandise inventory 1,520.0
Record cost of merchandise sold- FIFO
 5 Cost of merchandise sold 1,530.0
Merchandise inventory 1,530.0
Record cost of merchandise sold- LIFO
5 Cost of merchandise sold 1,530.0
Merchandise inventory 1,530.0
Record cost of merchandise sold- WEIGHTED AVERAGE COST
6 Accounts payable-Samsung 510.0
Merchandise inventory 10.0
Cash 500.0
Paid purchase from April 2 within the discount period
11 Merchandise inventory 1,590.0
Accounts payable-LG 1,590.0
Purchased merchandise on account
11 Merchandise inventory 10.0
Cash 10.0
Paid shipping cost of purchased merchandise
12 Accounts receivable-Alexa 4,000.0
Sales 4,000.0
Sold merchandise to Alexa on account
12 Accounts receivable-Alexa 10.0
Cash 10.0
Paid prepaid shipping cost of merchandise sold to Alexa
12 Cost of merchandise sold 1,040.0
Merchandise inventory 1,040.0
Record cost of merchandise sold - SPECIFIC IDENTIFICATION
12 Cost of merchandise sold 1,020.0
Merchandise inventory 1,020.0
Record cost of merchandise sold - FIFO
12 Cost of merchandise sold 1,060.0
Merchandise inventory 1,060.0
Record cost of merchandise sold - LIFO
12 Cost of merchandise sold 1,042.0
Merchandise inventory 1,042.0
Record cost of merchandise sold - WEIGHTED AVERAGE COST
16 Sales salaries expense 250.0
Office salaries expense 175.0
Cash 425.0
Paid first half of salaries
16 Accounts payable-Samsung 2,060.0
Cash 2,060.0
Paid purchase from April 4
18 Merchandise inventory 1,070.0
Accounts payable-Samsung 1,070.0
Purchased merchandise on account
18 Merchandise inventory 10.0
 Accounts payable-Samsung 10.0
Paid shipping cost of purchased merchandise on account
19 Cash 3,970.0
Sales discount 40.0
Accounts receivable-Alexa 4,010.0
Collected cash on account from April 12
20 Accounts payable-LG 1,590.0
Merchandise inventory 31.8
Cash 1,558.2
Paid purchase from April 11
26 Merchandise inventory 3,360.0
Accounts payable-Samsung 3,360.0
Purchased merchandise on account
26 Merchandise inventory 20.0
Accounts payable-Samsung 20.0
Paid shipping cost of purchased merchandise on account
27 Accounts receivable-Alexa 12,000.0
Sales 12,000.0
Sold merchandise on account to Alexa
27 Accounts receivable-Alexa 20.0
Cash 20.0
Paid prepaid shipping cost of merchandise sold to Alexa
27 Cost of merchandise sold 4,370.0
Merchandise inventory 4,370.0
Recorded cost of merchandise sold-SPECIFIC IDENTIFCATION
27 Cost of merchandise sold 4,340.0
Merchandise inventory 4,340.0
Recorded cost of merchandise sold - FIFO
27 Cost of merchandise sold 4,430.0
Merchandise inventory 4,430.0
Recorded cost of merchandise sold - LIFO
27 Cost of merchandise sold 4,360.0
Merchandise inventory 4,360.0
Recorded cost of merchandise sold - WEIGHTED AVERAGE COST
29 Accounts payable-Samsung 1,080.0
Cash 1,080.0
Paid purchase from April 18
30 Cash 11,900.0
Sales discount 120.0
Accounts receivable-Alexa 12,020.0
Collected cash on account from April 27
30 Accounts receivable-Siri 3,000.0
Sales 3,000.0
Sold merchandise on account
30 Delivery expense 10.0
 Accounts receivable-Siri 10.0
Record shipping cost owed to supplier
30 Cost of merchandise sold 840.0
Merchandise inventory 840.0
Record cost of merchandise sold- SPECIFIC IDENTIFCATION
30 Cost of merchandise sold 840.0
Merchandise inventory 840.0
Record cost of merchandise sold - FIFO
30 Cost of merchandise sold 785.0
Merchandise inventory 785.0
Recorded cost of merchandise sold - LIFO
30 Cost of merchandise sold 818.0
Merchandise inventory 818.0
Recorded cost of merchandise sold - WEIGHTED AVERAGE COST
30 Electricity expense 500.0
Water expense 75.0
Internet expense 225.0
Accounts payable-utilities 800.0
Record acrrued expenses
General Journal
Date Debit Credit
May 1 Salaries expense 425.0
Cash 425.0
Paid the second half of salaries for April
1 Accounts payable-utilities 800.0
Cash 800.0
Paid utilities billed of April
2 Merchandise inventory 1,160.0
Accounts payable-LG 1,160.0
Purchase merchandise on account -FOB destination
2 Accounts payable-LG 10.0
Cash 10.0
Paid shipping cost of purchased merchandise
2 Merchandise inventory 500.0
Accounts payable-Samsung 500.0
Purchase merchandise on account -FOB shipping point
2 Merchandise inventory 10.0
Accounts payable-Samsung 10.0
Record shipping cost owed to supplier
4 Merchandise inventory 2,040.0
Accounts payable-Samsung 2,040.0
Purchase merchandise on account
4 Merchandise inventory 20.0
Accounts payable-Samsung 20.0
Record shipping cost owed to supplier
 5 Accounts payable-Samsung 3,380.0
Merchandise inventory 67.2
Cash 3,312.8
Paid purchase from April 26
5 Cash 2,960.0
Sales discount 30.0
Accounts receivable-Siri 2,990.0
Collected cash on acount of April 30
6 Accounts receivable-Siri 4,500.0
Sales 4,500.0
Sold merchandise on account
6 Delivery expense 10.0
Accounts receivable- Siri 10.0
Record shipping cost owed to customer
6 Cost of merchandise sold 1,650.0
Merchandise inventory 1,650.0
Record cost of merchandise sold- SPECIFIC IDENTIFCATION
6 Cost of merchandise sold 1,710.0
Merchandise inventory 1,710.0
Record cost of merchandise sold - FIFO
6 Cost of merchandise sold 1,530.0
Merchandise inventory 1,530.0
Recorded cost of merchandise sold - LIFO
6 Cost of merchandise sold 1,602.0
Merchandise inventory 1,602.0
Recorded cost of merchandise sold - WEIGHTED AVERAGE COST
6 Accounts payable-Samsung 510.0
Merchandise inventory 10.0
Cash 500.0
Paid purchase from May 2- FOB shipping point
7 Cash 4,445.0
Sales discount 45.0
Accounts receivable-Siri 4,490.0
Collected cash on account of May 6
9 Accounts payable 1,150.0
Merchandise inventory 23.2
Cash 1,126.8
Paid purchase from May 2-FOB destination

11 Merchandise inventory 1,590.0

Accounts payable-LG 1,590.0
Purchase merchandise on account
11 Merchandise inventory 10.0
Cash 10.0
Paid shipping cost of purchased merchandise
12 Accounts receivable-Alexa 4,000.0
Sales 4,000.0
Sold merchandise on account
12 Accounts receivable-Alexa 10.0
Cash 10.0
Paid prepaid shipping cost of merchandise sold to Alexa
12 Cost of merchandise sold 1,045.0
Merchandise inventory 1,045.0
Record cost of merchandise sold- SPECIFIC IDENTIFCATION
12 Cost of merchandise sold 1,045.0
Merchandise inventory 1,045.0
Record cost of merchandise sold - FIFO
12 Cost of merchandise sold 1,060.0
Merchandise inventory 1,060.0
Recorded cost of merchandise sold - LIFO
12 Cost of merchandise sold 1,066.0
Merchandise inventory 1,066.0
Recorded cost of merchandise sold - WEIGHTED AVERAGE COST
16 Office salaries expense 250.0
Sales salaries expense 175.0
Cash 425.0
Paid first half of salaries
16 Accounts payable-Samsung 2,060.0
Cash 2,060.0
Paid purchase from May 4
18 Merchandise inventory 1,070.0
Accounts payable-Samsung 1,070.0
Purchase merchandise on account
18 Merchandise inventory 10.0
Accounts payable-Samsung 10.0
19 Cash 3,970.0
Sales discount 40.0
Accounts receivable-Alexa 4,010.0
Collected cash on account of May 12
20 Accounts payable-LG 1,590.0
Merchandise inventory 31.8
Cash 1,558.2
Paid purchase from May 11
26 Merchandise inventory 3,360.0
Accounts payable-Samsung 3,360.0
Purchase merchandise on account
26 Merchandise inventory 20.0
Accounts payable-Samsung 20.0
Record shipping cost owed to supplier
27 Accounts receivable-Alexa 12,000.0
 Sales 12,000.0
Sold merchandise on account
27 Accounts receivable-Alexa 20.0
Cash 20.0
Paid prepaid shipping cost of merchandise sold to Alexa
27 Cost of merchandise sold 4,215.0
Merchandise inventory 4,215.0
Record cost of merchandise sold- SPECIFIC IDENTIFCATION
27 Cost of merchandise sold 4,178.0
Merchandise inventory 4,178.0
Record cost of merchandise sold - FIFO
27 Cost of merchandise sold 4,430.0
Merchandise inventory 4,430.0
Recorded cost of merchandise sold - LIFO
27 Cost of merchandise sold 4,360.0
Merchandise inventory 4,360.0
Recorded cost of merchandise sold - WEIGHTED AVERAGE COST
29 Accounts payable-Samsung 1,080.0
Cash 1,080.0
Paid purchase from May 18
30 Accounts receivable-Siri 3,000.0
Sales 3,000.0
Sold merchandise on account
30 Delivery expense 10.0
Accounts receivable- Siri 10.0
Record shipping cost owed to customer
30 Cost of merchandise sold 840.0
Merchandise inventory 840.0
Record cost of merchandise sold- SPECIFIC IDENTIFCATION
30 Cost of merchandise sold 828.0
Merchandise inventory 827.5
Record cost of merchandise sold - FIFO
30 Cost of merchandise sold 785.0
Merchandise inventory 785.0
Recorded cost of merchandise sold - LIFO
30 Cost of merchandise sold 818.0
Merchandise inventory 818.0
Recorded cost of merchandise sold - WEIGHTED AVERAGE COST
31 Cash 11,900.0
Sales discount 120.0
Accounts receivable-Alexa 12,020.0
Collected cash on account of May 27
31 Electricity expense 600.0
Water expense 175.0
Internet expense 325.0
 Accounts payable-utilities 1,100.0
Jun-05 Accounts payable-Samsung 3,370.0
Cash 3,370.0
Paid purchased merchandise from May 26
2 Merchandise inventory 1,160.0
Accounts payable-LG 1,160.0
Purchased merchandise on account
2 Accounts payable 10.0
Cash 10.0
9 Accounts payable-LG 1,160.0
Merchandise inventory 23.2
Cash 1,136.8
Paid purchase from June 2 within the discount period
2 Merchandising inventory 1,136.8
Accounts payable-LG 1,136.8
Purchase merchandise on account
2 Merchandise inventory 10.0
Cash 10.0
Paid shipping cost of purchased merchandise
General Ledger
Name: Cash

Date Item P.R Debit Credit

1-Apr 20,000
2 2,250
2 500
3 150
3 3,500
5 300
5 4,455
6 500
11 10
12 10
16 425
16 2,060
19 3,970
20 1,558.20
27 20
29 1,080
30 11,900
1-May Beginning balance 27,961.80
1 425
1 800
2 10
5 3,312.80
5 2,960
6 500
7 4,445
9 1,126.80
11 10
12 10
16 425
16 2,060.00
19 3,970
20 1,558.20
27 20
29 1,080
31 11,900
Name: Accounts receivable

Date Item P.R Debit Credit

Apr-12 Alexa 4,000
12 Alexa 10
 19 Alexa 4,010
27 Alexa 12,000
27 Alexa 20
30 Alexa 12,020
30 Siri 3,000
30 Siri 10
1-May Beginning balance 2,990
5 2,990
6 4,500
6 10
7 4,490
12 4,000
12 10
19 4,010
27 12,000
27 20
30 3,000
30 10
31 12,020

Name: Merchandise Inventory (SPECIFIC IDENTIFICATION)

Date Item P.R Debit Credit

2 Samsung 500
2 Samsung 10
4 Samsung 2,040
4 Samsung 20
5 Siri 1,530
6 Samsung 10
11 LG 1,590
11 LG 10
12 Alexa 1,040
18 Samsung 1,070
18 Samsung 10
20 LG 31.80
26 Samsung 3,360
26 Samsung 20
27 Alexa 4,370
30 Siri 840
1-May Beginning balance 808.2
2 1,160
2 500
2 10
4 2,040
4 20
 5 67.2
6 1,650
6 10
9 23.2
11 1,590.00
11 10
12 1,045
18 1,070
18 10
20 31.8
26 3,360
26 20
27 4,215
30 840
Name: Merchandise Inventory (FIFO)

Date Item P.R Debit Credit

2-Apr Samsung 500
2 Samsung 10
4 Samsung 2,040
4 Samsung 20
5 Siri 1,520
6 Samsung 10
11 LG 1,590
11 LG 10
12 Alexa 1,020
18 Samsung 1,070
18 Samsung 10
20 LG 31.80
26 Samsung 3,360
26 Samsung 20
27 Alexa 4,340
30 Siri 840
1-May Beginning balance 868.2
2 1,160
2 500
2 10
4 2,040
4 20
5 67.2
6 1,710
6 10
9 23.2
11 1,590.00
11 10
 12 1,045
18 1,070
18 10
20 31.8
26 3,360
26 20
27 4,178
30 828
Name: Merchandise Inventory (LIFO)

Date Item P.R Debit Credit

2 Samsung 500
2 Samsung 10
4 Samsung 2,040
4 Samsung 20
5 Siri 1,530
6 Samsung 10
11 LG 1,590
11 LG 10
12 Alexa 1,060
18 Samsung 1,070
18 Samsung 10
20 LG 31.80
26 Samsung 3,360
26 Samsung 20
27 Alexa 4,430
30 Siri 785
1-May Beginning balance 783.2
2 1,160
2 500
2 10
4 2,040
4 20
5 67.2
6 1,530
6 10
9 23.2
11 1,590.00
11 10
12 1,060
18 1,070
18 10
20 31.8
26 3,360
26 20
 27 4,430
30 785

Name: Merchandise Inventory (WEIGHTED AVERAGE COST)

Date Item P.R Debit Credit

2 Samsung 500
2 Samsung 10
4 Samsung 2,040
4 Samsung 20
5 Siri 1,530
6 Samsung 10
11 LG 1,590
11 LG 10
12 Alexa 1,042
18 Samsung 1,070
18 Samsung 10
20 LG 31.80
26 Samsung 3,360
26 Samsung 20
27 Alexa 4,360
30 Siri 818
1-May Beginning balance 838.2
2 1,160
2 500
2 10
4 2,040
4 20
5 67.2
6 1,602
6 10
9 23.2
11 1,590.00
11 10
12 1,066
18 1,070
18 10
20 31.8
26 3,360
26 20
27 4,360
30 818.00
Name: Supplies- Sales invoice document
 Date Item P.R Debit Credit
Apr-03 150
30 Adjusting 75
1-May Beginning balance 75
30 Adjusting 75
Name: Prepaid rent

Date Item P.R Debit Credit

Apr-02 2,250
30 Adjusting 750
1-May Beginning balance 1,500
30 Adjusting 750
Name: Prepaid insurance

Date Item P.R Debit Credit

Apr-05 300
30 Adjusting 100
1-May Beginning balance 200
30 Adjusting 100
Name: Store equipment

Date Item P.R Debit Credit

Apr-02 Store signage 500
3 Store shelves 2,000
1-May Store signgage 500
1 Store shelves 2,000.00
Name: Office Equipment

Date Item P.R Debit Credit

Apr-03 Air conditioning unit 1,500
1-May Air conditioning unit 1,500
Name: Accumulated depreciation - Store signage

Date Item P.R Debit Credit

Apr-30 Adjusting 20.83
1-May Beginning balance 20.83
30 Adjusting 20.83
Name: Accumulated depreciation -Store Shelves

Date Item P.R Debit Credit

Apr-30 Adjusting 33.33
1-May Beginning balance 33.33
31 Adjusting 33.33
Name: Accumulated depreciation - Air conditioning unit
 Date Item P.R Debit Credit
Apr-30 Adjusting 25
1-May Beginning balance 25
Name: Allowance for uncollectible account

Date Item P.R Debit Credit

Apr-30 Adjusting 29.9
1-May Beginning balance 29.9
31 Adjusting 29.9
Name: Accounts payable

Date Item P.R Debit Credit

Apr-02 Samsung 500
2 Samsung 10
4 Samsung 2,040
4 Samsung 20
6 Samsung 510
11 LG 1,590
16 Samsung 2,060
18 Samsung 1,070
18 Samsung 10
20 LG 1,590
26 Samsung 3,360
26 Samsung 20
29 Samsung 1,080
30 Utilities 800
1-May Beginning balance 4,180
1 800
2 1,160
2 10
2 500
2 10
4 2,040
4 20
5 3,380
6 510
9 1,150
11 1,590.00
16 2,060
18 1,070
18 10
20 1,590.00
26 3,360
26 20
29 1,080
 31 1,100
Name: Salaries Payable

Date Item P.R Debit Credit

Apr-30 Adjusting 425
1-May Reversing 425
31 Adjusting 425
Name: Ramos, Capital

Date Item P.R Debit Credit

Apr-01 20,000
1-May Beginning balance 20,000
Name: Accumulated profit

Date Item P.R Debit Credit

30-Apr Closing 12,880.94
1-May Beginning balance 12,880.94
31 Closing
Name: Income Summary

Date Item P.R Debit Credit

30-Apr Closing 23,500
30 10,619.06
30
Name: Sales

Date Item P.R Debit Credit

Apr-05 4,500
12 4,000
27 12,000
30 3,000
30-Apr Closing 23,500
6-May 4,500
12 4,000
27 12,000
30 3,000
Name: Sales discount

Date Item P.R Debit Credit

Apr-05 45
19 40
30 120
30 Closing 205
5-May 30
7 45
 19 40
31 120
Name: Cost of merchandise sold (SPECIFIC IDENTIFICATION)

Date Item P.R Debit Credit

Apr-05 1,530
12 1,040
27 4,370
30 840
30 Closing 7,780
6-May 1,650
12 1,045
27 4,215
30 840
31 Closing 7,750
Name: Cost of merchandise sold (FIFO)

Date Item P.R Debit Credit

Apr-05 1,530
12 1,020
27 4,340
30 840
30 Closing 7,720
6-May 1,710
12 1,045
27 4,178
31 828
Name: Cost of merchandise sold (LIFO)

Date Item P.R Debit Credit

Apr-05 1,530
12 1,060
27 4,430
30 785
30 Closing 7,805
6-May 1,530
12 1,060
27 4,430
31 785
Name: Cost of merchandise sold (WEIGHTED AVERAGE COST)

Date Item P.R Debit Credit

Apr-05 1,530
12 1,042
27 4,360
 30 818
30 Closing 7,750
6-May 1,602
12 1,066
27 4,360
31 817.50
Name: Sales salaries expense

Date Item P.R Debit Credit

16-Apr 175
30 Adjusting 175
30 Closing 350
1-May 175
16-May 175
31 Adjusting 175
Name: Supplies expense- Sales invoice document

Date Item P.R Debit Credit

Apr-30 Adjusting 75
30 Closing 75
31-May Adjusting 75
Name: Depreciation expense- Store signage

Date Item P.R Debit Credit

Apr-30 Adjusting 20.83
30 Closing 20.83
31-May Adjusting 20.83
Name: Depreciation expense- Store shelves

Date Item P.R Debit Credit

Apr-30 Adjusting 33.33
30 Closing 33.33
31-May Adjusting 33.33
Name: Depreciation expense- Air conditioning unit

Date Item P.R Debit Credit

Apr-30 Adjusting 25
30 Closing 25
31-May Adjusting 25
Name: Delivery expense

Date Item P.R Debit Credit

30-Apr 10
30 Closing 10
6-May 10
Name: Office salaries expense

Date Item P.R Debit Credit

Apr-16 250
30 Adjusting 250
30 Closing 500
1-May 250
16-May 250
30 Adjusting 250
Name: Rent expense

Date Item P.R Debit Credit

Apr-30 Adjusting 750
30 Closing 750
30-May Adjusting 750
Name: Insurance expense

Date Item P.R Debit Credit

Apr-30 Adjusting 100
30 Closing 100
30-May Adjusting 100
Name: Uncollectible account expense

Date Item P.R Debit Credit

Apr-30 Adjusting 29.9
30 Closing 29.9
30-May Adjusting 29.9
Name: Utilities expense

Date Item P.R Debit Credit

30-Apr Electricity expense 500
Water expense 75
Internet expense 225
30 Closing 800
30-May Electricity expense 600
Water expense 175
Internet expense 325
Closing 1,100
 Adjusting Entries
Date Description
April 30 Rent expense
Balance Prepaid rent
Debit Credit Expired rent for the month
20,000 30 Insurance expense
17,750 Prepaid insurance
17,250 Expired insurance for the month
17,100 30 Supplies expense
13,600 Supplies-sales invoice document
13,300 Supplies used during the month
17,755 30 Depreciation expense-store signage
17,255 Accumulated depreciation-store signage
17,245 Depreciation for store signage
17,235 30 Depreciation expense-store shelves
16,810 Accumulated depreciation-store shelves
14,750 Depreciation expense for store shelves
18,720 30 Depreciation expense - air conditioning unit
17,161.80 Accumulated depreciation-air conditioning unit
17,141.80 Depreciation for air conditioning unit
16,061.80 30 Sales salaries expense
27,961.80 Office salaries expense
27,961.80 Salaries payable
27,536.80 Accrued salaries
26,736.80 30 Uncollectible accounts expense
26,726.80 Allowance for uncollectible accounts
23,414 Record uncollectible accounts
26,374 31-May Rent expense
25,874 Prepaid rent
30,319 Expired rent for the month
29,192.20 31 Insurance expense
29,182.20 Prepaid insurance
29,172.20 Expired insurance for the month
28,747.20 31 Supplies expense
26,687.20 Supplies-sales invoice document
30,657.20 Supplies used during the month
29,099.00 31 Depreciation expense-store signage
29,079 Accumulated depreciation-store signage
27,999 Depreciation for store signage
39,899.00 31 Depreciation expense-store shelves
Accumulated depreciation-store shelves
Balance Depreciation expense for store shelves
Debit Credit 31 Depreciation expense - air conditioning unit
4,000 Accumulated depreciation-air conditioning unit
4,010 Depreciation for air conditioning unit
 0 31 Sales salaries expense
12,000 Office salaries expense
12,020 Salaries payable
0 Accrued salaries
3,000 31 Uncollectible accounts expense
2,990 Allowance for uncollectible accounts
2,990 Record uncollectible accounts
0
4,500
4,490
0
4,000
4,010
0
12,000
12,020
15,020
15,010
2,990

Balance
Debit Credit
500
510
2,550
2,570.00
1,040
1,030
2,620
2,630.00
1,590
2,660
2,670
2,638.20
5,998.20
6,018.20
1,648.20
808.2
808.2
1,968.20
2,468.20
2,478.20
4,518.20
4,538.20
 4,471
2,821
2,811
2,787.80
4,377.80
4,387.80
3,342.80
4,412.80
4,422.80
4,391
7,751.00
7,771.00
3,556.00
2,716.00

Balance
Debit Credit
500
510
2,550
2,570.00
1,050
1,040
2,630
2,640.00
1,620
2,690
2,700
2,668.20
6,028.20
6,048.20
1,708.20
868.2
868.2
2,028.20
2,528.20
2,538.20
4,578.20
4,598.20
4,531
2,821
2,811
2,787.80
4,377.80
4,387.80
3,342.80
4,412.80
4,422.80
4,391
7,751.00
7,771.00
3,593.00
2,765.00

Balance
Debit Credit
500
510
2,550
2,570.00
1,040
1,030
2,620
2,630.00
1,570
2,640
2,650
2,618.20
5,978.20
5,998.20
1,568.20
783.2
783.2
1,943.20
2,443.20
2,453.20
4,493.20
4,513.20
4,446
2,916
2,906
2,882.80
4,472.80
4,482.80
3,422.80
4,492.80
4,502.80
4,471
7,831.00
7,851.00
3,421.00
2,636.00

Balance
Debit Credit
500
510
2,550
2,570.00
1,040
1,030
2,620
2,630.00
1,588
2,658
2,668
2,636.20
5,996.20
6,016.20
1,656.20
838.2
838.2
1,998.20
2,498.20
2,508.20
4,548.20
4,568.20
4,501
2,899
2,889
2,865.80
4,455.80
4,465.80
3,399.80
4,469.80
4,479.80
4,448
7,808.00
7,828.00
3,468.00
2,650.50

Balance
Debit Credit
150
75
75
0

Balance
Debit Credit
2,250
1,500
1,500
750

Balance
Debit Credit
300
200
200
100

Balance
Debit Credit
500
2,500
500
2500

Balance
Debit Credit
1,500
1,500

Balance
Debit Credit
20.83
20.83
41.66

Balance
Debit Credit
33.33
33.33
66.66

Balance
Debit Credit
25
50

Balance
Debit Credit
29.9
29.9
59.8

Balance
Debit Credit
500
510
2,550
2,570
2,060
3,650
1,590
2,660
2,670
1,080
4,440
4,460
3,380
4,180
4,180
3,380
4,540
4,530
5,030
5,040
7,080
7,100
3,720
3,210
2,060
3,650.00
1,590.00
2,660.00
2,670.00
1,080.00
4,440
4,460
3,380
 4,480.00

Balance
Debit Credit
425
425
425

Balance
Debit Credit
20,000
20,000

Balance
Debit Credit
12,880.94
12,880.94

Balance
Debit Credit
23,500
12,880.94
12,880.94

Balance
Debit Credit
4,500
8,500
20,500
23,500
23,500
4,500
8,500
20,500
23,500

Balance
Debit Credit
45
85
205
0
30
75
 115
235

Balance
Debit Credit
1,530
2,570
6,940
7,780
0
1,650
2,695
6,910
7,750
0

Balance
Debit Credit
1,530
2,540
6,880
7,720
0
1,710
2,755
6,933
7,761

Balance
Debit Credit
1,530
2,590
7,020
7,805
0
1,530
2,590
7,020
7,805

Balance
Debit Credit
1,530
2,572
6,932
 7,750
0
1,602
2,668
7,028
7845.50

Balance
Debit Credit
175
350
0
175
350
525

Balance
Debit Credit
75
0
75

Balance
Debit Credit
20.83
0
20.83

Balance
Debit Credit
33.33
0
33.33

Balance
Debit Credit
25
0
25

Balance
Debit Credit
10
0
10
 Balance
Debit Credit
250
500
0
250
500
750

Balance
Debit Credit
750
0
750

Balance
Debit Credit
100
0
100

Balance
Debit Credit
29.9
0
29.9

Balance
Debit Credit
500
575
800
0
600
775
1,100
0
 Closing Entries (FIFO)
P.R Debit Credit Date Description
750 April 30 Sales
750 Income summary
Close sales account
100 30 Income summary
100 Sales discounts
Cost of merchandise sold
75 Rent expense
75 Sales salaries expense
Supplies expense-sales invoice document
20.83 Depreciation expense-store signage
20.83 Depreciation expense-store shelves
Depreciation expense - air conditioning unit
33.33 Delivery expense
33.33 Office salaries expense
Insurance expense
25 Electricity expense
25 Water expense
Internet expense
175 Uncollectible accounts expense
250 Close expenses
425 30 Accumulated profits
Income summary
29.9 31-May Sales
29.9 Income summary
Close sales account
750 31 Income summary
750 Sales discounts
Cost of merchandise sold
100 Rent expense
100 Sales salaries expense
Supplies expense-sales invoice document
75 Depreciation expense-store signage
75 Depreciation expense-store shelves
Depreciation expense - air conditioning unit
20.83 Delivery expense
20.83 Office salaries expense
Insurance expense
33.33 Electricity expense
33.33 Water expense
Internet expense
25 Uncollectible accounts expense
25 Close expenses
31 Accumulated profits
175 Income summary
250 Closing Entries (LIFO)
425 Date Description
April 30 Sales
29.9 Income summary
29.9 Close sales account
30 Income summary
Sales discounts
Cost of merchandise sold
Rent expense
Sales salaries expense
Supplies expense-sales invoice document
Depreciation expense-store signage
Depreciation expense-store shelves
Depreciation expense - air conditioning unit
Delivery expense
Office salaries expense
Insurance expense
Electricity expense
Water expense
Internet expense
Uncollectible accounts expense
Close expenses
30 Accumulated profits
Income summary
31-May Sales
Income summary
Close sales account
31 Income summary
Sales discounts
Cost of merchandise sold
Rent expense
Sales salaries expense
Supplies expense-sales invoice document
Depreciation expense-store signage
Depreciation expense-store shelves
Depreciation expense - air conditioning unit
Delivery expense
Office salaries expense
Insurance expense
Electricity expense
Water expense
Internet expense
Uncollectible accounts expense
Close expenses
 31 Accumulated profits
Income summary
Closing Entries (WEIGHTED AVERAGE COST)
Date Description
April 30 Sales
Income summary
Close sales account
30 Income summary
Sales discounts
Cost of merchandise sold
Rent expense
Sales salaries expense
Supplies expense-sales invoice document
Depreciation expense-store signage
Depreciation expense-store shelves
Depreciation expense - air conditioning unit
Delivery expense
Office salaries expense
Insurance expense
Electricity expense
Water expense
Internet expense
Uncollectible accounts expense
Close expenses
30 Accumulated profits
Income summary
31-May Sales
Income summary
Close sales account
31 Income summary
Sales discounts
Cost of merchandise sold
Rent expense
Sales salaries expense
Supplies expense-sales invoice document
Depreciation expense-store signage
Depreciation expense-store shelves
Depreciation expense - air conditioning unit
Delivery expense
Office salaries expense
Insurance expense
Electricity expense
Water expense
Internet expense
Uncollectible accounts expense
 Close expenses
31 Accumulated profits
Income summary
Closing Entries (SPECIFIC IDENTIFICATION)
Date Description
April 30 Sales
Income summary
Close sales account
30 Income summary
Sales discounts
Cost of merchandise sold
Rent expense
Sales salaries expense
Supplies expense-sales invoice document
Depreciation expense-store signage
Depreciation expense-store shelves
Depreciation expense - air conditioning unit
Delivery expense
Office salaries expense
Insurance expense
Electricity expense
Water expense
Internet expense
Uncollectible accounts expense
Close expenses
30 Accumulated profits
Income summary
31-May Sales
Income summary
Close sales account
31 Income summary
Sales discounts
Cost of merchandise sold
Rent expense
Sales salaries expense
Supplies expense-sales invoice document
Depreciation expense-store signage
Depreciation expense-store shelves
Depreciation expense - air conditioning unit
Delivery expense
Office salaries expense
Insurance expense
Electricity expense
Water expense
Internet expense
 Uncollectible accounts expense
Close expenses
31 Accumulated profits
Income summary
 Reversing Entries
P.R Debit Credit Date Description
23,500 1-May Salaries payable
23,500 Office salaries expense
Sales salaries expense
-10,619.06 To reverse entry for acrrued salaries
205 1 Accounts payable-utilities
7,720 Electricity expense
750 Water expense
350 Internet expense
75 1-Jun Salaries payable
20.83 Office salaries expense
33.33 Sales salaries expense
25 To reverse entry for acrrued salaries
10
500
100
500
75
225
29.90

12,880.94
12,880.94
23,500
23,500

-10,990.06
235
7,761
750
350
75
20.83
33.33
25
10
500
100
600
175
325
29.90

12,509.94
 12,509.94

P.R Debit Credit

23,500
23,500

-10,704.06
205
7,805
750
350
75
20.83
33.33
25
10
500
100
500
75
225
29.90

12,795.94
12,795.94
23,500
23,500

-11,034.06
235
7,805
750
350
75
20.83
33.33
25
10
500
100
600
175
325
29.90
 12,465.94
12,465.94

P.R Debit Credit

23,500
23,500

-10,649.06
205
7,750
750
350
75
20.83
33.33
25
10
500
100
500
75
225
29.90

12,850.94
12,850.94
23,500
23,500

-11,074.06
235
7,845
750
350
75
20.83
33.33
25
10
500
100
600
175
325
29.90
 12,425.94
12,425.94

P.R Debit Credit

23,500
23,500

-10,679.06
205
7,780
750
350
75
20.83
33.33
25
10
500
100
500
75
225
29.90

12,820.94
12,820.94
23,500
23,500

-10,979.06
235
7,750
750
350
75
20.83
33.33
25
10
500
100
600
175
325
 29.90

12,520.94
12,502.94
P.R Debit Credit
425
250
175

800
500
75
225
425
250
175
 Silva Company
Statement of Cash Flows
For the two months ended
30-May 30-Apr
Operating Activities
Net income 12,509.94 12,880.94
Depreciation- Store signage 20.83 20.83
Depreciation- Store shelves 33.33 33.33
Depreciation-Air conditioning unit 25.00 25.00
Net after non-cash expenses 12,589.10 12,960.10
Increase in Accounts receivable 0.00 (3000.00)
Increase in Allowance for uncollectible accounts 0.00 30.00
Increase in Merchandise inventory - FIFO (1896.80) (868.20)
Increase in Supplies-Sales invoice document 0.00 (75.00)
Increase/Decrease in Prepaid Rent 750.00 (1500.00)
Increase/ Decrease in Prepaid Insurance 100.00 (200.00)
Increase in Accounts payable 300 4605.00
Increase in Salaries payable 0.00 425.00
Net cash provided by from Operating activities 11,842.30
Investing activities
Payment for Store signage 0 500
Payment for Store shelves 0 2,000
Payment for Air-conditioning unit 0 1,500
Net cash used by Investing Activities 0
Financing Activities
Investment by the owner 0 20,000
Drawings of the owner 0 0
Net cash provided by Financing Activities 0

Net change in cash 11,842.30

Cash, Beginning 27,961.80
Cash, End 39,804.10
12,376.90

4000

20,000

27,961.80
0
27,961.80
 Silva Company
Income Statement
For two months ended
In Philippine Peso

FIFO METHOD
May-31
Sales 23,500
Less sales discount (235.00)
Cost of merchandise sold (7761.00)
Gross profit 15,504
Operating expenses:
Selling expenses:
Rent expense 750
Sales salaries expense 350
Supplies expense 75
Depreciation expense-store signage 20.83
Depreciation expense-store shelves 33.33
Delivery expense 10
Total selling expenses (1239.16)
Administrative expenses:
Office salaries expense 500
Insurance expense 100
Electricity expense 600
Water expense 175
Internet expense 325
Depreciation expense-air conditioning unit 25
Total administrative expenses
Total operating expenses (1725.00)
Other expense 12,540
Uncollectible account expense 29.9
Net income 12,509.94

Silva Company
Statement of Changes in Equity
For two months ended
In Philippine Peso
FIFO METHOD
May-31
Silva Ramos, Capital
Beginning balance 20,000
Additional Investment 0
Withdrawals for the period 0
Ending Balance 20,000

Accumulated Profits
Beginnig balance 12,880.94
Drawings for the period 0
Profit for the period 12,509.94
Ending Balance 25,390.88

Equity, End 45,391

Silva Company
Balance Sheet
In Philippine Peso
FIFO METHOD
As Of
May-31
Assets
Current Assets

Cash 39,909.00
Accounts receivable 2,990
Less allowance for uncollectible accounts (59.80)
Merchandise inventory 2,765.00
Supplies- Sales invoice document 0
Prepaid insurance 100
Prepaid rent 750
Total current assets 46,454.20

Non current assets

Store equipment- Store siganage 500

Less accumulated depreciation (41.66)
Store equipment- Store shelves 2,000.00
Less accumulated depreciation (66.66)
Office equipment-air conditioning unit 1,500
Less accumulated depreciation (50.00)
Total non currrent assets 3841.68

Total Assets 50,295.88

Liabilities
Current liabilities

Accounts payable 4480

Salaries payable 425
Total current liabilities 4,905
Owner's Equity
Ramos, Capital 20,000
Accumulated profits 25390.88
45390.88
Total liabilities and owner's equity 50295.88
 LIFO METHOD
Apr-30 May-31 Apr-30
23,500 23,500 23,500
(205.00) (235.00) (205.00)
(7720.00) (7805.00) (7805.00)
15,575 15,460 15490

750 750 750

350 350 350
75 75 75
20.83 20.83 20.83
33.33 33.33 33.33
10 10 10
(1239.16) (1239.16) (1239.16)

500 500 500

100 100 100
500 600 500
75 175 75
225 325 225
25 25 25

(1425.00) (1725.00) (1425.00)

29.9 29.9 29.9

12,880.94 12,465.94 12,795.94

LIFO METHOD
Apr-30 May-31 Apr-30

0 20,000 0
20,000 0 20,000
 0 0 0
20,000 20,000 20,000

0 12,795.94 0
0 0 0
12,880.94 12,465.94 12,795.94
12,880.94 25,261.88 12795.94

32,880.94 45,261.88 32,795.94

LIFO METHOD
May-31 Apr-30
Apr-30 As Of

27,961.80 39,899.00 27,961.80

2,990 2,990 2,990
(29.90) (59.80) (29.90)
868.2 2,636.00 783.2
75 0 75
200 100 200
1,500 750 1,500
33,565.10 46,315.20 33,480.10

500 500 500

(20.83) (41.66) (20.83)
2,000 2,000.00 2,000
(33.33) (66.66) (33.33)
1,500 1,500 1,500
(25.00) (50.00) (25.00)
3920.84 3,841.68 3920.84

37485.94 50,156.88 37,400.94

4,180 4,480 4,180

 425 425 425
4,605 4,905 4605

20,000 20,000 20,000

12,880.94 25,261.88 12,795.94
32,881 45,261.88 32795.94
37485.94 50,166.88 37,400.94
 WEIGHTED AVERAGE COST SPECIFIC IDENTIFICATION
May-31 Apr-30 31-May 30-Apr
23,500 23,500 23,500 23,500
(235.00) (205.00) (205.00) (205.00)
(7845.50) (7750.00) (7750.00) (7780.00)
15,420 15,545 15,545

750 750 750 750

350 350 350 350
75 75 75 75
20.83 20.83 20.83 20.83
33.33 33.33 33.33 33.33
10 10 10 10
(1239.16) (1239.16) (1239.16)

500 500 500 500

100 100 100 100
600 500 500 500
175 75 75 75
325 225 225 225
25 25 25 25
(1425.00) (1425.00)
(1725.00)

29.9 29.9 29.9 29.9

12,425.94 12,850.94 12,850.94

WEIGHTED AVERAGE COST SPECIFIC IDENTIFICATION

May-31 Apr-30 31-May 30-Apr

20,000 0 20,000 0
0 20,000 0 20,000
 0.00 0 0.00 0
20,000 20,000 20,000

12,850.94 0 12,820.94 0
0 0 0 0
12,425.94 12,850.94 12,850.94 12,820.94
25,276.88 12850.94 25,671.88

45,276.88 32,850.94 45671.88

WEIGHTED AVERAGE COST SPECIFIC IDENTIFICATION

May-31 Apr-30 31-May 30-Apr
As Of As Of

39,899.00 27,961.80 39,899.00 27,961.80

2,990 2,990 2,990 2,990
(59.80) (29.90) (59.80) (29.90)
2,650.00 838.2 2,716.00 808.2
0 75 0 75
100 200 100 200
750 1,500 750 1,500
46,329.20 33,535.10 46,395.20

500 500 500 500

(41.66) (20.83) (41.66) (20.83)
2,000.00 2,000 2,000.00 2,000
(66.66) (33.33) (66.66) (33.33)
1,500 1,500 1,500 1,500
(50.00) (25.00) (50.00) (25.00)
3841.68 3920.84 3841.68

50,170.88 37,455.94 50,236.88

4,480 4,180 4,480 4,180

 425 425 425 425
4,905 4605 4,905

20,000 20,000 20,000 20,000

25,276.88 12,850.94 25,671.88 12,820.94
45,277 32,851 45,672
50181.88 37455.94 50576.88
 15,515

(1239.16)

(1425.00)

12,820.94
 20,000

12,820.94

32820.94

33,505.10

3920.84

37,425.94
 4605

32,821
37425.94
Sales Journal Cash Receipts Journal
Date Invoice No. Accounts Debited P.R Accounts Receivable Dr. Date
Sales Cr.
12-Apr Alexa 3,960 1-Apr
27 Siri 11,880 5
30 Siri 2,970 19
18,810 30
6-May Siri 4,455 5-May
12 Alexa 3,960 7
27 Alexa 11,880 19
30 Siri 2,970 31
 Cash Payments Journal
Account Credited P.R Other Accounts Cash Date
Accounts Cr. Receivable Cr. Dr.
Ramos, Capital 20,000 20,000 2-Apr
Sales-Siri 4,455 4,455 2
Alexa 40 4,010 3,970 3
Alexa 120 12,020 11,900 3
Siri 30 2,990 2,960 3
Siri 45 4,490 4,445 5
Alexa 40 4,010 3,970 5
Alexa 120 12,020 11,900 6
11
12
16
16
20
27
29
1-May
1
2
5
6
9
11
12
16
16
20
27
29
Ck. No. Account Debited P.R Other Accounts Cash
Accounts Dr. Payable Dr. Cr.
Prepaid Rent 2,250 2,250
Store equipment-Store Signage 500 500
Supplies-Sales Invoice Document 150 150
Store equipment-Store Shelves 2,000 2,000
Store equipment-Air Conditioning Unit 1,500 1,500
Prepaid Insurance 300 300
Sales discount 45 45
Samsung 500 500
Freight Expense-Merchandise Inventory 10 10
Freight Expense-Accounts receivable 10 10
Salaries expense 425 425
Samsung 2,060 2,060
LG 1,558.20 1,558.20
Freight Expense 20 20
Samsung 1,080 1,080
Salaries expense 425 425
Utilities 800 800
LG 10 10
Samsung 3,312.80 3,312.80
Samsung 500 500
LG 1,126.80 1,126.80
Freight Expense-Merchandise Inventory 10 10
Freight Expense -Accounts Receivable 10 10.00
Salaries expense 425 425
Samsung 2,060 2,060
LG 1,558.20 1,558.20
Freight Expense-Accounts receivable 20 20
Samsung 1,080 1,080
Purchases Journal
Date Account Credited P.R Accounts Store Other P.R
Payable Cr. Supplies Dr. Accounts Dr.
2-Apr Samsung 510 Merchandise Inventory
4 Samsung 2,060 Merchandise Inventory
11 LG 1,590 Merchandise Inventory
18 Samsung 1,080
26 Samsung 3,380
30 Utilities 800
30 Salaries payable 425 Salaries expense
2-May LG 1,170 Merchandise Inventory
2 Samsung 510
4 Samsung 2,060
11 LG 1,590
18 Samsung 1,080
26 Samsung 3,380
31 Utilities 1,100
31 Salaries payable 425 Salaries expense
Amount

510
2,060
1,590
1,080
3,380
800
425
1,170
510
2,060
1,590
1,080
3,380
1,100
425