Matthew_McCoy_E8-9

Matthew_McCoy_E8-9 - 640 Sales Jan. 4 Cost of Goods Sold...

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Matthew McCoy E8-9 Jan. 1 Beginning inventory (periodic system) shows $600 Jan. 4 Accounts receivable 640           Sales Jan. 11 Purchases 975           Accounts payable Jan. 13 Accounts receivable 1,050           Sales Jan. 20 Purchases 1,120           Accounts payable Jan. 27 Accounts receivable 900           Sales Jan. 31 Inventory (ending, by count) 770 Cost of Goods Sold 1,925           Purchases           Inventory (beginning) Gross Profit (periodic system) = $665 Jan. 1 Beginning inventory (perpetual system) shows $600 Jan. 4 Accounts receivable
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Unformatted text preview: 640 Sales Jan. 4 Cost of Goods Sold 480 Inventory Jan. 11 Inventory 975 Accounts payable Jan. 13 Accounts receivable 1,050 Sales Jan. 13 Cost of Goods Sold 770 Inventory Jan. 20 Inventory 1,120 Accounts payable Jan. 27 Accounts receivable 900 Sales Jan. 27 Cost of Goods Sold 675 Inventory Gross Profit (perpetual system) = $665 640 975 1,050 1,120 900 2,095 600 640 480 975 1,050 770 1,120 900 675...
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Matthew_McCoy_E8-9 - 640 Sales Jan. 4 Cost of Goods Sold...

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