The following inventory transactions apply to Green Company for Year 2. January 1 April 1 August...
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The following inventory transactions apply to Green Company for Year 2. January 1 April 1 August 1 December 1 Purchased 230 units e s11 Sold 115 units e S18 Purchased 360 units e S12 Sold 450 units @ S19 The beginning inventory consisted of 170 units at $12 per unit. All transactions are cash transactions. Required a. Record these transactions in general journal format assuming Green uses the FIFO cost flow assumption and keeps perpetual records b. Compute cost of goods sold for Year 2. Record purchases of inventory for cash. Date General Journal Debit Credit January 01 The following inventory transactions apply to Green Company for Year 2. January 1 April 1 August 1 December 1 Purchased 230 units e s11 Sold 115 units e S18 Purchased 360 units e S12 Sold 450 units @ S19 The beginning inventory consisted of 170 units at $12 per unit. All transactions are cash transactions. Required a. Record these transactions in general journal format assuming Green uses the FIFO cost flow assumption and keeps perpetual records b. Compute cost of goods sold for Year 2. Record purchases of inventory for cash. Date General Journal Debit Credit January 01
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Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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