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At the end of the year, Tunnel Mountain Resorts Ltd., a company that has a periodic inventory system, had the following account balances on its
At the end of the year, Tunnel Mountain Resorts Ltd., a company that has a periodic inventory system, had the following account balances on its unadjusted trial balance. Inventory $75000Purchases $388000 Purchase discounts 6000 Freight in 12000 The inventory counted at the end of the year determined that the inventory on hand at that time cost $68,000. Recording the adjusting journey entry that would be made at the end of the year to update inventory and cost of goods sold accounts. No explanations needed. What is an unadjusted trial balance
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