Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 10 Feb 2018 My Price 4.00

Telly’s Supply

The following information comes from the records of Telly’s Supply:
Beginning inventory……………….$32,000
Inventory purchases…………………85,000
Transportation-in……………………..4,300
An inventory count taken at year-end indicates that inventory with a cost of $50,000 is on hand as of December 31, 2011.
Assume that inventory purchases and transportation-in are both reflected in the inventory account, which shows an ending balance of $52,000. Compute cost of goods sold along with any adjusting entries required at the end of the period.

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Feb 2018 11:02 PM My Price 4.00

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