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fix mistakes pls. Question 4 of 11 0.2/1 Sheridan Company sells one product. Presented below is information for January for Sheridan Company. Jan 1 Inventory
fix mistakes pls. Question 4 of 11 0.2/1 Sheridan Company sells one product. Presented below is information for January for Sheridan Company. Jan 1 Inventory 4 Sale 11 Purchase 107 units at $ each 84 units at $8 each 146 units at $6 each 118 units at $9 each 153 units at $7 each 13 Sale 20 Purchase 27 Sale 89 units at $10 each Sheridan uses the FIFO cost flow assumption. All purchases and sales are on account (a) Your answer is partially correct Assume Sheridan uses a periodic system. Prepare all necessary Journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 115 units. If no entry is required, select "No entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) 0.2/1 Date Account Titles and Explanation Debit Credit Accounts Receivable 672 Sales Revenue 672 n. 11 Inventory 876 Accounts Payable 876 13 Accounts Receivable 1062 Sales Revenue 1062 20 Inventory 1071 Accounts Payable 1071 27 Accounts Receivable 890 Sales Revenue 890 Cost of Goods Sold 1677 Question 4 of 11 0.2/1 n. 20 Inventory 1071 Accounts Payable 1071 Accounts Receivable 890 Sales Revenue 890 lan 31 Cost of Goods Sold 1677 Inventory 1677 No Entry No Entry
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