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Journal Entry Information : Use the perpetual inventory method with the FIFO valuation method. Please see the Milestone Inventory tab in your workbook for purchase

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Information: Use the perpetual inventory method with the FIFO valuation method. Please see the Milestone Inventory tab in your workbook for purchase and sales information.

August 25: Purchased 15 golf club sets for $240 each to sell at the store from vendor A, on account with terms of 1/10 net 60.

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