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The journal entry for the credit purchase of inventory under the perpetual inventory system is...... Dt Merchandise Inventory XXX and Ct Accounts Receivable XXX Dt

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The journal entry for the credit purchase of inventory under the perpetual inventory system is...... Dt Merchandise Inventory XXX and Ct Accounts Receivable XXX Dt Merchandise Inventory XXX and Ct Cash XXX Dt Purchase XXX and Ct Accounts Payable XXX O Dt Merchandise Inventory XXX and Ct Accounts Payable XXXX You are given the following information: Purchase : RM281,750, Purchase Discount: RM4.410. Freight in: RM14.700, Purchase Return: RM61,250. Beginning Inventory: RM 12,520, Cost of Goods Sold: RM200,000. Ending Inventory: ?. Required: Calculate the ending inventory RM37.090 RM43,310 RM30,790 RM43,130

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