Question
4) Provide closing entries assuming periodic or perpetual system Sales 500 Beg inv 50 Purchases 575 CGAS 625 less end inv 268 CGS 357 Gross
4) Provide closing entries assuming periodic or perpetual system
Sales 500
Beg inv 50
Purchases 575
CGAS 625
less end inv 268
CGS 357
Gross margin 143
operating exp 73
net income 70
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
