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Required information Skip to question [ The following information applies to the questions displayed below .] Sigfusson Supplies reported beginning inventory of 80 units, for
Required information
Skip to question
[The following information applies to the questions displayed below.]
Sigfusson Supplies reported beginning inventory of 80 units, for a total cost of $2,000. The company had the following transactions during the month:
January 6 | Sold 20 units on account at a selling price of $35 per unit. |
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January 9 | Bought 10 units on account at a cost of $25 per unit. |
January 11 | Sold 10 units on account at a selling price of $40 per unit. |
January 19 | Sold 20 units on account at a selling price of $45 per unit. |
January 27 | Bought 10 units on account at a cost of $25 per unit. |
January 31 | Counted inventory and determined that 30 units were on hand. |
Prepare the journal entries that would be recorded using a perpetual inventory system, including any book-to-physical adjustment that might be needed. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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