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one question two parts!! pls help!! Exercise 4.5 (Algo) Determining inventory ownership and costs in transit LO P1 For each transaction of Sealy Company. (a)
one question two parts!! pls help!!
Exercise 4.5 (Algo) Determining inventory ownership and costs in transit LO P1 For each transaction of Sealy Company. (a) determine whether or not Sealy owns the goods during transit. (b) If Sealy is responsible for transportation costs, record the entry for shipping costs assuming they are paid in cash and the perpetual inventory system is used. Complete this question by entering your answers in the tabs below. Determine whether or not Sealy owns the goods during transit. Exercise 4-5 (Algo) Determining inventory ownership and costs in transit LO P1 For each transaction of Sealy Company, (o) determine whether of not Sealy owns the goods during transit. (B) uf Sealy is responsibile for transportation costs, record the entry for shipping costs assuming they are poid in cosh and the perpetuol imventory system is used. Complete this question by entering your answers in the tabs below. If Sealy is respons ble for transportation costs, record the entry for shipping costs assuming they are asid in cash aco the perpetuat inventory system is used. Note: If no entry is requirta for a transactionvevent, seiect "No youmat entry required" in the fint account feils. Journal entry worksheet 4. Purchased goods fob vhipping point. Transportation costs are $770 Step by Step Solution
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