Assignment Task: Accounting records for Richard Corporation yield the following data for the year ended December 31, 20X6:
Inventory, December 31, 20X5 $9,000
Purchases of inventory (on account) 48,000
Sales of inventory-79% on account; 21% for cash (cost $41,000) 77,000
Inventory at FIFO, December 31, 20X6 16,000
Requirements:
1. Journalize Richard's inventory transactions for the year under the perpetual system.
2. Report ending inventory, sales, cost of goods sold, and gross profit on the appropriate financial statement.
We can proudly state that our Inventory Transactions Assignment Help service is considered as the most trusted online service organizations in the industry.
Tags: Inventory Transactions Assignment Help, Inventory Transactions Homework Help, Inventory Transactions Coursework, Inventory Transactions Solved Assignments, Cost of Goods Sold Assignment Help, Cost of Goods Sold Homework Help