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Prepare journal entries to record purchases (on account) and sales (cash) for Snow-Tech in a perpetual inventory system using average cost. (Round answers to 2
Prepare journal entries to record purchases (on account) and sales (cash) for Snow-Tech in a perpetual inventory system using average cost. (Round answers to 2 decimal places, e.g. 15.25. List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (To record sales) 22 Cost of Goods Sold Inventory (To record the inventory sold) 25 Inventory 10676 Accounts Payable 10676 Current Attempt in Progress Snow-Tech Inc. sells an Xpert ski that is popular with ski enthusiasts. The following information shows Snow-Tech's purchases and sales of Xpert ski during November
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