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2.5points eBook Print References Check my workCheck My Work button is now enabled Item 4 Item 4 2.5 points Bonnie Denim Company sells blue jeans.
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eBook
References
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Item 4
Item 4 2.5 points
Bonnie Denim Company sells blue jeans. Last year, skinny jeans were fashionable; this year, relaxed-fit jeans are in style. The company has 595 units of skinny jeans with a cost of $28 per unit and a market value of $26 per unit. The inventory also includes 1,220 units of relaxed-fit jeans with a cost of $27 per unit and a market value of $30 per unit.
Required: Prepare the journal entry, if any, that is required to adjust the Inventory account. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
2.5points
eBook
References
Check my workCheck My Work button is now enabled
Item 4
Item 4 2.5 points
Bonnie Denim Company sells blue jeans. Last year, skinny jeans were fashionable; this year, relaxed-fit jeans are in style. The company has 595 units of skinny jeans with a cost of $28 per unit and a market value of $26 per unit. The inventory also includes 1,220 units of relaxed-fit jeans with a cost of $27 per unit and a market value of $30 per unit.
Required: Prepare the journal entry, if any, that is required to adjust the Inventory account. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0697789938
