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I need help with this desperately! I have filled out what I could. The following supplementary records summarize Tesla Company's merchandising activities for year 2017
I need help with this desperately! I have filled out what I could.
The following supplementary records summarize Tesla Company's merchandising activities for year 2017 (It uses a perpetual Inventory system). $164.eee 23,813 168,133 Cost of merchandise sold to customers in sales transactions Merchandise inventory, December 31, 2016 Invoice cost of merchandise purchases, gross amount Shrinkage determined on December 31, 2017 Cost of transportation-in Cost of merchandise returned by customers and restored to inventory Purchases discounts received Purchases returns and allowances 1,681 2,450 1,345 3,900 Record the summarized activities in the T-accounts below. Balance, Dec 31, 2016 Transportation-in Merchandise Inventory 23.813 Cost of sales transactions 2.512 Shrinkage Purchases discounts received Purchases returns and allowances (143,750) 184.000 830 1,345 3.900 Cost of Goods SoldStep by Step Solution
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