Presented below is selected information related to Hoerl Co. for the month of January 2022. a .

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Presented below is selected information related to Hoerl Co. for the month of January 2022.

a. Prepare the necessary adjusting entry for inventory.
b. Prepare the necessary closing entries.

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Accounting Principles

ISBN: 9781119707110

14th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell

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Question Posted: Jun 29, 2022 03:18 AM

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Presented below is selected information related to Hoerl Co. for the month of January 2022. a .

Question:

Ending inventory per perpetual records Ending inventory actually on hand Cost of goods sold Freight-out $ 21,600 21,000 218,000 7,000 Insurance expense Rent expense Salaries and wages expense Sales discounts Sales returns and allowances Sales revenue $ 12,000 20,000 55,000 10,000 13,000 380,000

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Accounting Principles

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