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Consider the following transactions for Toys and More Toys: (Click the icon to view the transactions.) Requirements 1. Journalize the purchase transactions. Explanations are not
Consider the following transactions for Toys and More Toys: (Click the icon to view the transactions.) Requirements 1. Journalize the purchase transactions. Explanations are not required. 2. In the final analysis.how much did the inventory cost Toys and More Toys? Requirement 1. Journalize the purchase transactions. Explanations are not required. (Assume the company uses a perpetual inventory system. Record debits first.then credits. Exclude explanations from journal entries.) Oct. 6: Toys and More Toys buys $199. 800 worth of MegoBlock toys on account with credit terms of 2/10.n/60. Oct. 12: Toys and More Toys returns $19. 900 of the merchandise to MegoBlock due to damage during shipment. Oct. 16: Toys and More Toys paid the amount due.less the return and discount. Requirement 2. In the final analysis.how much did the inventory cost Toys and More Toys? The inventory cost for Toys and More Toys is $
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