Assume the cost of each book sold was 6 b what are

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Financial and Managerial Accounting Using Excel for Success
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Chapter 5 / Exercise EX 5–39
Financial and Managerial Accounting Using Excel for Success
Reeve/Warren
Expert Verified
inventory system. Assume the cost of each book sold was $6.(b) What are the advantages and disadvantages for The Novelty Bookstore of using a perpetualinventory system as opposed to a periodic system?Chapter 5: E5.5, E5.5 Presented here is information related to Djuric Ltd for the month of January2016.Freight-in $ 14 300Rent expense— Store space 14 300— Office space 14 300Freight-out 10 010Salary expense— Sales 30 030— Office 57 200Insurance expense 17 160Discount allowed 11 440Purchases 286 000Sales returns and allowances 18 590Sales 446 160
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Financial and Managerial Accounting Using Excel for Success
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Chapter 5 / Exercise EX 5–39
Financial and Managerial Accounting Using Excel for Success
Reeve/Warren
Expert Verified
Purchase returns and allowances 12 870Beginning inventory was $60 060, and ending inventory was $90 090.RequiredPrepare a fully classified statement of profit or loss for Djuric Ltd.PSA5.7 At the beginning of the current season, the ledger of Kids SportstoreLtd showed Cash $5250; Inventory $3570; and Share Capital $8820. The followingtransactions were completed during October 2016.Oct. 4 Purchased bats and balls from Robert & Co. $1974, FOB shipping point, terms 3/7, n/30.6 Paid freight on Robert & Co. purchase $84.8 Sold inventory to customers $1890, terms n/30.

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