Josie bisset company established its stock by using the acquisition price or lower of cost or market (LOCOM) supply assessment for years that ended 31/12/19 and 31/12/20, stock value data based on the acquisition price and lowest between the purchase price or market are as follows on the pict:

 

Instructions:

1. Make journal entries on 31/12/19 and 31/12/20, assuming that the basic sales price method is used and the company does not use allowance accounts.
2. Make journal entries on 31/12/19 and 31/12/20, assuming that the method of loss used and the allowance account is adjusted at the end of the year.

Transcribed Image Text:

Cost LOCOM 31/12/19 Rp296.000.000 Rp272.000.000 31/12/20 Rp391.000.000 Rp306.000.000 Cost LOCOM 31/12/19 Rp296.000.000 Rp272.000.000 31/12/20 Rp391.000.000 Rp306.000.000

Answer rating: 100% (QA)

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