Question
Shellys Shampoo ended October with inventory of $2,000. Shellys purchased $38,000 of inventory during November and had $6,000 of inventory on hand at the end
Shellys Shampoo ended October with inventory of $2,000. Shellys purchased $38,000 of inventory during November and had $6,000 of inventory on hand at the end of November. Complete the T account for Shellys Inventory. How much inventory did they sell during October? ___________________ If they sold that inventory for $50,000, how much revenue did they have? _______________What is their Gross Margin? _______________
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Write the journal entry to record Shellys purchases:
Write the journal entry to record Shellys revenue:
Write the journal entry to record Shellys expense:
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The Business Innovation Audit
Authors: William Tate
1st Edition
0955970733, 978-0955970733
