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Robo-Pool is a lean manufacturer of robotic pool vacuums. Each unit requires $225 of raw materials and $375 of conversion costs and is sold
Robo-Pool is a lean manufacturer of robotic pool vacuums. Each unit requires $225 of raw materials and $375 of conversion costs and is sold for $700. During a recent month the company produced 120 units and sold 100 units. Use lean accounting to prepare journal entries to record each of the following. 1. Purchase of raw materials on credit. 2. Applied conversion costs to production. 3. Sold 100 units on credit. 4. Record ending inventory and cost of goods sold. View transaction list Journal entry worksheet < A B C D Record the purchase of raw materials on credit. Note: Enter debits before credits. Transaction General Journal Debit Credit
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