Question: Perform the following exercise using the Perpetual Inventory methods with their respective entries, T ' s of greatest and calculation of gross profit 1 .

Perform the following exercise using the Perpetual Inventory methods with their respective entries, T's of greatest and calculation of gross profit
1. We start business with the following values
Box $300,000
Warehouse $600,000
Furniture $230,000
2. When selling merchandise for $500,000 in cash, we grant a discount of $50,000, the cost of the sale is $300,000.
3. When purchasing merchandise for $600,000 paid by check, we are granted a discount of $30,000
4. Previous purchases caused shipping costs of $15,000 that were owed
5. They returned merchandise with a cost of $100,000 that we had sold for $150,000 for this same amount we gave merchandise with a cost of $110,000
6. We returned merchandise for $40,000 and they gave us merchandise for this same amount
7. Make the corresponding adjustment and transfer entries.

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