On February 8, Gross Company purchased on account 72,000 units of raw materials at $ 8 per
Question:
On February 8, Gross Company purchased on account 72,000 units of raw materials at $ 8 per unit. On February 19, raw materials were requisitioned for production as follows: 32,000 units for Job 60 at $ 7 per unit and 37,000 units for Job 61 at $ 8 per unit. Journalize the entry on February 8 to record the purchase and on February 19 to record the requisition from the materials storeroom.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-1285078571
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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