The following amounts summarize X-cell Inc's merchandising activities during 2023 (a) Merchandise Inventory balance, December 31,...
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The following amounts summarize X-cell Inc's merchandising activities during 2023 (a) Merchandise Inventory balance, December 31, 2022 (b) Cost of merchandise sold to customers in sales transactions, (c) Invoice cost of merchandise purchases, 36,000 213,500 270,000 (d) Shrinkage determined on December 31, 2023 6,300 (e) Cost of Transportation in 6,600 ) Cost of merchandise returned by customers and restored to inventory 9,700 (g) Purchase discounts received (h) Purchase returns and allowances received 2,550 11,000 Record these activities directly in the T-accounts below and compute the account balances. Use the letter beside each activity to identify the entries, by placing the letter in the left hand cell and the amount in the night-hand cell on the appropriate side of the T-account Whop determining the balance of each account, Write Balance (or "Baf) next to it, in the left-hand cell on the appropriate side Be sure to include only the final adjusted balance Merchandise Inventory Cost Of Goods Sold The following amounts summarize X-cell Inc's merchandising activities during 2023 (a) Merchandise Inventory balance, December 31, 2022 (b) Cost of merchandise sold to customers in sales transactions, (c) Invoice cost of merchandise purchases, 36,000 213,500 270,000 (d) Shrinkage determined on December 31, 2023 6,300 (e) Cost of Transportation in 6,600 ) Cost of merchandise returned by customers and restored to inventory 9,700 (g) Purchase discounts received (h) Purchase returns and allowances received 2,550 11,000 Record these activities directly in the T-accounts below and compute the account balances. Use the letter beside each activity to identify the entries, by placing the letter in the left hand cell and the amount in the night-hand cell on the appropriate side of the T-account Whop determining the balance of each account, Write Balance (or "Baf) next to it, in the left-hand cell on the appropriate side Be sure to include only the final adjusted balance Merchandise Inventory Cost Of Goods Sold
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