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I attempted the problem and I have a couple questions that I need clarification on: Why is the amount of $155,000 deducted from inventory and
I attempted the problem and I have a couple questions that I need clarification on:
- Why is the amount of $155,000 deducted from inventory and accounts payable?
- Why is nothing recorded in the sales column when a sale of $22,000 occurred during the last week of the year?
- Why would nothing be recorded in inventory and accounts payable?
- Why would $210,000 be added to inventory. Im unclear because, if goods are being held on consignment, wouldnt the inventory be there to begin with?
- OK.
- Why would the freight bill be included in the inventory column and accounts payable column?
- Can you please walk me through on how you get (5,300) in the inventory and accounts payable column?
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