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Idaho Ine. is a wholesale company selling special parts for the automotive industry. The company uses FIFO. Its inventory records for part SA-123 show the
Idaho Ine. is a wholesale company selling special parts for the automotive industry. The company uses FIFO. Its inventory records for part SA-123 show the following transactions for the month of May 2020: REQUIRED: Assuming Idaho makes all sales and purchases of inventory on account, prepare the journal entries for each of the above listed transactions on May 10,15,21&23 1. Assuming they use perpetual inventory system 2. Assuming they use periodic inventory system
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