Accounting Problem (Simple)

Topic: Inventory

Instructions

Please complete the Adjusting Journal Entry on December 31, 2020 by refering to Inventory Detail Tab.png and then Information at the Bottom of this page.

Inventory Detail Tab.png

Inventory Items on Hand Item ii Description Cost Selling Price Selling cosh: Market LCM 3% of selling price 145665A X205 30 HP Machine 13,5\").% 32.5%.\") 145669A X205 30 HP Machine 13,5\").% 32.5%.\") 147502A X205 30 HP Machine 13,5\").% 32.5%.\") 147503A X205 30 HP Machine 13,5\").% 32.5%.\") 1475M X205 30 HP Machine 13,5\").% 32.5%.\") 36\")10X (5350 60 HP Machine 35,9\").% 47.9%.\") 360011.)! (5350 60 HP Machine 35.9%.\") 47.9%.\") 360012)! (5350 60 HP Machine 35.9%.\") 47.9%.\") 360013)! (5350 60 HP Machine 35.9%.\") 47.9%.\") 598750W L5\") 1.me Machine 98.6(X).(X) 103,000.00 598751W L5\") 1.me Machine 98.6(X).(X) 103,000.00 593752W L5\") 1.me Machine 98.6(X).(X) 103.\".(0 506,900.00