ACC 205 Week 3 Exercise 3 Perpetual inventory system journal entries
Perpetual inventory system: journal entries. At the beginning of 20X3, Beehler Company implemented a computerized perpetual inventory system. The following transactions occurred:
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Write My Essay For Me- Purchases on account: 500 units @$4 = $2,000
- Sales on account: 300 units @ $5 = $1,500
- Purchases on account: 600 units @$5 = $3,000
- Sales on account: 300 units @ $5 = $1,500
- Prepare journal entries for the above purchases and sales.
- Calculate the balance in the firm’s Inventory account
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