Sunshine Pets Ltd. holds beginning inventory of 18 bags of health science cat food at a cost of $26 each, as at July 1.

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Sunshine Pets Ltd Holds Beginning Inventory Of 18 Bags Of Health Science Cat Food At A Cost Of 26 Each As At July 1 1 (68.31 KiB) Viewed 35 times

Sunshine Pets Ltd. holds beginning inventory of 18 bags of health science cat food at a cost of $26 each, as at July 1. During the month of July, the company has recorded the following purchases and sales (see table below). Sunshine Pets Ltd. is using the perpetual inventory method and follows the weighted average cost approach. Assume that all purchase and sales transactions have been made in cash. Date Purchased Units Sales Unit Price in $ 8 Purchased Weighted Unit Cost in Average per Sales Units $ Unit 27.00 26.31 10 28.00 26.77 02-Jul 10-Jul 12-Jul 72.00 6 Req. 1: Prepare the four required journal entries for the puchase and selling transactions listed in the table above. Use table 1 below for your answer. Req. 2: Calculate Sunshine Pet's ending inventory cost ($-amount) at the end of July. Enter the amount in table 2 below. Required format: plain number (no $-sign, etc.), round to two digits.