For each of the following cases determine the ending balance in the inventory account. (Hint....
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Accounting
For each of the following cases determine the ending balance in the inventory account. Hint First, determine the total cost of inventory available for sale. Next, subtract the cost of the inventory sold to arrive at the ending balance. Required a Jill's Dress Shop had a beginning balance in its inventory account of $ During the accounting period, Jill's purchased $ of inventory, returned $ of inventory, and obtained $ of purchases discounts. Jill's incurred $ of transportationin cost and $ of transportationout cost. Salaries of sales personnel amounted to $ Administrative expenses amounted to $ Cost of goods sold amounted to $ b Ken's Bait Shop had a beginning balance in its inventory account of $ During the accounting period, Ken's purchased $ of inventory, obtained $ of purchases allowances, and received $ of purchases discounts. Sales discounts amounted to $ Ken's incurred $ of transportationin cost and $ of transportationout cost. Selling and administrative cost amounted to $ Cost of goods sold amounted to $ tabletableJills DressShoptableKens BaitShopCost of goods available for sale,,Ending Inventory,,
For each of the following cases determine the ending balance in the inventory account. Hint First, determine the total cost of inventory available for sale. Next, subtract the cost of the inventory sold to arrive at the ending balance.
Required
a Jill's Dress Shop had a beginning balance in its inventory account of $ During the accounting period, Jill's purchased $ of inventory, returned $ of inventory, and obtained $ of purchases discounts. Jill's incurred $ of transportationin cost and $ of transportationout cost. Salaries of sales personnel amounted to $ Administrative expenses amounted to $ Cost of goods sold amounted to $
b Ken's Bait Shop had a beginning balance in its inventory account of $ During the accounting period, Ken's purchased $ of inventory, obtained $ of purchases allowances, and received $ of purchases discounts. Sales discounts amounted to $ Ken's incurred $ of transportationin cost and $ of transportationout cost. Selling and administrative cost amounted to $ Cost of goods sold amounted to $
tabletableJills DressShoptableKens BaitShopCost of goods available for sale,,Ending Inventory,,
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