Washington Warehouse is a small retail business that specializes in the sale of top-of-the-line televisions. This year, the store has begun to carry the Flat TV manufactured by Bass Co. Thus far this year, Washington has recorded the following transactions involving the Flat TV:
5 Jan Purchased 8 Flat TVs at a cost of $14,000
18 Jan Purchased 5 additional Flat TVs at $14,000 each
12 Feb Sold 9 Flat TVs to the Duke Hotel for $153,000

-Refer to the information above. Washington maintains a subsidiary ledger account for each type of TV carried in the store. An examination of the account for the Flat TV model at the end of February would show:

Question

Washington Warehouse is a small retail business that specializes in the sale of top-of-the-line televisions. This year, the store has begun to carry the Flat TV manufactured by Bass Co. Thus far this year, Washington has recorded the following transactions involving the Flat TV:
5 Jan	 Purchased 8 Flat TVs at a cost of $14,000
18 Jan	 Purchased 5 additional Flat TVs at $14,000 each
12 Feb  Sold 9 Flat TVs to the Duke Hotel for $153,000

-Refer to the information above. Washington maintains a subsidiary ledger account for each type of TV carried in the store. An examination of the account for the Flat TV model at the end of February would show:

Quizplus · Accepted Answer

Washington purchased a total of 13 Flat TVs (8 on Jan 5 and 5 on Jan 18). After selling 9 TVs on Feb 12, 4 units remain. The cost per TV is $14,000, so the total value of the remaining 4 units is 4 x $14,000 = $56,000.

Washington Warehouse Is a Small Retail Business That Specializes in the Sale