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Note that in SUA Assignment #1, we recorded several sales transactions for Waren Sports Supply, but none of our journal entries involved inventory. For example,
Note that in SUA Assignment #1, we recorded several sales transactions for Waren Sports Supply, but none of our journal entries involved inventory. For example, we never reduced the quantities of items in inventory as/after we shipped items to customers. Why is this? (Hint: Refer to Waren's Accounting System & Policies, described in theSUA Instructions, Flowcharts, & Ledgersbooklet, p. 6-9.)
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