Question
On September 1, Boylan Office Supply had an inventory of35calculators at a cost of $12each. The company uses a perpetual inventory system. During September, the
On September 1, Boylan Office Supply had an inventory of35calculators at a cost of $12each. The company uses a perpetual inventory system. During September, the following transactions occurred.
Sept. 6 Purchased with cash 95calculators at $25each from Guthrie Co.
Sept. 9 Paid freight of $95on calculators purchased from Guthrie Co.
Sept. 10 Returned3calculators to Guthrie Co. in exchange for $78cash (including reimbursement for freight fee) because they did not meet specifications.
Sept. 12 Sold30calculators costing $26(including freight) for $35each to Lee Book Store, terms n/30.
Sept. 14 Granted credit of $35to Lee Book Store for the return of one calculator that was not ordered.
Sept. 20 Sold32calculators costing $26for $34each to Orr's Card Shop, terms n/30.
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Horngrens Cost Accounting A Managerial Emphasis
Authors: Srikant M. Datar, Madhav V. Rajan, Louis Beaubien
8th Canadian Edition
134453735, 9780134824680, 134824687, 9780134733081 , 978-0134453736
