Home Hardware reported beginning inventory of 20 shovels, for a total cost of $140. The company had
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1. | Prepare the journal entries that would be recorded using a periodic inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) I have done all the journal entries except for the last two. I can't seem to figure out how to calculate the numbers. January 31 Cost of Goods Sold(Dr.) Inventory(Cr.) January 31 Inventory(Dr.) Cost of Goods Sold(Cr.) |
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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