Innovative, a unit of Outdoor Company, manufactures a line of electric, cordless, lawn mowers. Senior management of Outdoor Company has noticed that Innovative has been producing more lawn mowers than it has been selling, and that the unit's inventory has been steadily increasing.

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The following data are for Innovative for March $2020$:

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Read the requirements.

Requirement $1.$ Prepare summary journal entries for March $2020$ and post the entries to applicable T$-$accounts for both methods the current sequential tracking and the backflush costing that senior management of Outdoor Company is considering. $($Record debits first, then credits. Exclude explanations from any journal entries.$)$

Begin by recording the entries Outdoor Company would use for the current sequential tracking, starting with the purchase of direct materials.

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