Choi Company has the following inventory information.
|Date||Activity||Units Acquired at Cost||Units Sold at Retail|
|Beginning Inventory||150 units @ $300|
|June 7||Purchase||350 units @ $350|
|June 9||Sales||180 units @$1,200 per unit|
|June 17||Purchases||80 units @ $450|
|June 28||Purchases||100 units @ $458|
|June 30||Sales||300 units @ $1,400 per unit|
- Compute cost of goods available for sale and the number of units available for sale.
- Compute the number of units in ending inventory.
- Under the periodic inventory system, record journal entries for purchases on account.
- Under the periodic inventory system, record journal entries for sales invoiced.