Frigid Supplies reported beginning inventory of 455 units, for a total cost of $4,550. The company had the following transactions during the month: 3an. 3 Sold 30 units on account at a selling price of $16 per unit. 6 Bought 35 units on account at a cost of $10 per unit. 16 Sold 35 units on account at a selling price of $16 per unit. 19 Sold 30 units on account at a selling price of $21 per unit. 26 Bought 17 units on account at a cost of $10 per unit. 31 Counted inventory and determined that 395 units were on hand. 2. Prepare the journal entries that would be recorded using a perpetual inventory system, including any "book-to-physical" adjustment that might be needed. Tip: Adjust for shrinkage by decreasing Inventory and increasing Cost of Goods Sold. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 12 34 56 7 Record the sales revenue on account. K Prev 14 15.. of.15 Next > Frigid Supplies reported beginning inventory of 455 units, for a total cost of $4,550 The company had the following transactions during the monthh: Jan. 3 Sold 30 units on account at a selling price of $16 per unit. 6 Bought 35 units on account at a cost of $10 per unit. 16 Sold 35 units on account at a selling price of $16 per unit. 19 Sold 30 units on account at a selling price of $21 per unit. 26 Bought 17 units on account at a cost of $10 per unit 31 Counted inventory and determined that 395 units were on hand. Required 1. Prepare the journal entries that would be recorded using a periodic inventory system.(If no entry is required for transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 6 Sold 30 units on account at a selling price of $16 per unit. Frigid Supplies reported beginning inventory of 455 units, for a total cost of $4,550. The company had the following transactions during the month: 3an. 3 Sold 30 units on account at a selling price of $16 per unit. 6 Bought 35 units on account at a cost of $10 per unit. 16 Sold 35 units on account at a selling price of $16 per unit. 19 Sold 30 units on account at a selling price of $21 per unit. 26 Bought 17 units on account at a cost of $10 per unit. 31 Counted inventory and determined that 395 units were on hand. 2. Prepare the journal entries that would be recorded using a perpetual inventory system, including any "book-to-physical" adjustment that might be needed. Tip: Adjust for shrinkage by decreasing Inventory and increasing Cost of Goods Sold. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 12 34 56 7 Record the sales revenue on account. K Prev 14 15.. of.15 Next > Frigid Supplies reported beginning inventory of 455 units, for a total cost of $4,550 The company had the following transactions during the monthh: Jan. 3 Sold 30 units on account at a selling price of $16 per unit. 6 Bought 35 units on account at a cost of $10 per unit. 16 Sold 35 units on account at a selling price of $16 per unit. 19 Sold 30 units on account at a selling price of $21 per unit. 26 Bought 17 units on account at a cost of $10 per unit 31 Counted inventory and determined that 395 units were on hand. Required 1. Prepare the journal entries that would be recorded using a periodic inventory system.(If no entry is required for transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 6 Sold 30 units on account at a selling price of $16 per unit
