Regal Distributors purchases inventory in crates of merchandise. Assume the company began December with an inventory of 40 units that cost $305 each. During the month, the company purchased and sold merchandise on account as shown (Click the icon to view the transactions.) Assume Regal Distributors uses the moving-weighted-average-cost method. The company uses a perpetual inventory system Cash payments on account totalled $19.000 Company operating expenses for the month were $30.000 The company paid one-half in cash, with the rest accrued as Accounts Payable Required 1. Prepare a perpetual inventory record at moving-weighted average cost. Round the average unit cost to the nearest cent and all other amounts to the nearest dollar 2. Prepare a multi-step income statement for Regal Distributors for the month of December Requirement 1. Prepare a perpetual inventory record at moving-weighted-average cost [Round average cost per unit to the nearest cent. Round all other calculations to the nearest whole dollar. When calculating inventory on hand, use the technique as outlined in the text. Rounding issues will occur if alternate methods are used.) UNITS Purchases OTY Unit Cost Tot Cost Cost of Goods Sold OTY Unit Cost Tot Cost Inventory on Hand OTY Unt Cost Tot Cost Assume the company began December with an inventory c X More info Dec 10 Purchased 34 units at $325. 15 Sold 47 units at $610. 22 Purchased 80 units at $355. 29 Sold 87 units at $710. Print Done — ter Tue ent th tex $30,000 The company paid one-half in cash, with the rest accrued as Accounts Payable. Required 1. Prepare a perpetual inventory record at moving-weighted-average cost. Round the average unit cost to the nearest cent and all other amount Prepare a multi-step income statement for Regal Distributors for the month of December. 2. Beginning Dec 10 15 22 29 Ending QTY 34 Purchases. Unit Cost Tot. Cost my vous a perpedar Rivernory system. Cash payments on 325 11050 Cost of Goods Sold QTY Unit Cost Tot Cost GTTS Inventory on Hand QTY Unit Cost Tot. Cost $30,000 The Company paid one-half in cash, with the rest accrued as Accounts Payable Required 1. Prepare a perpetual inventory record at moving-weighted-average cost. Round the average unit cost to the nearest cent and all other amounts to the nearest dollar Prepare a multi-step income statement for Regal Distributors for the month of December 2. Hm Net income Regal Distributors Income Statement For the Month Ended December 31 Ally uses & perpetual inventory system. Cash payments on account totalled 519,000 Com Type here to search O >> 18°C The