presented below is information related to Ayayai industries for the month of january 2020. Ending Inventory per ; 1. perpetual records €24.710 Ending inventory actually; 1. on hand 23.910 2. cost of goods sold 213.050 3. freight out 7.270 4. insurance expenses €11.820 5. rent expenses 22.450 6. salaries and wages expense 55.490 7. sales discounts 13.080 8. sales returns and allowances 15.060 9. sales revenue 401.870 prepare the necessary adjusting entry for inventory.

presented below is information related to Ayayai industries for the month of january 2020. Ending Inventory per ; 1. perpetual records €24.710 Ending inventory actually; 1. on hand 23.910 2. cost of goods sold 213.050 3. freight out 7.270 4. insurance expenses €11.820 5. rent expenses 22.450 6. salaries and wages expense 55.490 7. sales discounts 13.080 8. sales returns and allowances 15.060 9. sales revenue 401.870 prepare the necessary adjusting entry for inventory.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter14: Adjustments For A Merchandising Business

Section: Chapter Questions

Problem 3MC: Under the periodic inventory system, what account is debited when an estimate is made for the cost...

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