Prepare the adjusting entry to record cost of goods sold (under FIFO) for 2018 and adjust the
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Question:
Prepare the adjusting entry to record cost of goods sold (under FIFO) for 2018 and adjust the inventory account to its year-end balance.
How to do the entry on the periodic approach ?? is it correct to say
Cost of Good Sold 2,738,545
Purchese 2,738,545. ????? or inventory ???
Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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