accounting for inventory using the perpetual system—lifo

Project Description:

completed a consulting engagement and received cash of $7,800.
prepaid three months’ office rent, $1,650.
purchased 80 units software inventory on account, $1,680, plus freight in, $80.
sold 40 software units on account, $3,500.
consulted with a client for a fee of $1,000 on account.
paid employee salary, $2,055.
paid on account, $1,760.
purchased 240 units software inventory on account, $6,240.
paid utilities, $250.
sold 120 units of software for cash, $4,680.
recorded the following adjusting entries:
accrued salary expense, $685.
depreciation, $100 (equipment, $30; furniture, $70).
expiration of prepaid rent, $550.
physical count of inventory, 145 units.
Skills Required:
Project Stats:

Price Type: Negotiable

Expired
Total Proposals: 7
1 Current viewersl
18 Total views
Project posted by:

Proposals

Proposals Reputation Price offered
  • 4.9
    68 Jobs 54 Reviews
    $0 in 0 Day
  • 4.5
    411 Jobs 260 Reviews
    $10 in 0 Day
  • 4.3
    6 Jobs 3 Reviews
    $0 in 0 Day
  • 4.4
    81 Jobs 55 Reviews
    $0 in 0 Day
  • 4.8
    551 Jobs 388 Reviews
    $0 in 0 Day
  • 4.6
    16 Jobs 9 Reviews
    $0 in 0 Day