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Required information [The following information applies to the questions displayed below.] Sigfusson Supplies reported beginning inventory of 135 units, for a total cost of $4,050.
Required information [The following information applies to the questions displayed below.] Sigfusson Supplies reported beginning inventory of 135 units, for a total cost of $4,050. The company had the following transactions during the month: Jan. 6 Sold 30 units on account at a selling price of $40 per unit. 9 Bought 20 units on account at a cost of $30 per unit. 11 Sold 20 units on account at a selling price of $45 per unit. 19 Sold 30 units on account at a selling price of $50 per unit. 27 Bought 20 units on account at a cost of $30 per unit. 31 counted inventory and determined that 75 units were on hand. Required: 1. Prepare the journal entries that would be recorded using a periodic inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet
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