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A client has recently decided to start tracking inventory in QuickBooks Online. Previously, when purchasing goods, everything was coded directly to the Cost of Sales
A client has recently decided to start tracking inventory in QuickBooks Online. Previously, when purchasing goods, everything was coded directly to the Cost of Sales account. Now when goods are purchased, the item field on purchase transactions should be utilized. You've discovered they are still coding the purchases directly to the Cost of Sales account.
Which effects will this have on the QuickBooks Online file?
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Financial Accounting Theory and Analysis Text and Cases
Authors: Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey
12th edition
1119386209, 978-1119299349, 1119299349, 1119186331, 978-1119186335, 978-1119386209
