The friends have expanded the shop to include sales of tablets as well as consulting services activities. The new company name is FMoore Consulting and Sales Inc. All transactions for the company through the end of the year have been posted to the accounts EXCEPT FOR those relating to the purchasing and sales of tablets in October. You will be recording and posting those entries. Additionally, all monthly adjustments have been made EXCEPT for those related to accounting for bad debts and any inventory and cost of goods sold issues. You will be adding that information. You will then be making the required closing entries and preparing the year-end financial statements for the company. The following is a suggested series of steps for completing the project:

1. Complete the Perpetual Inventory card worksheets to reflect the October purchases and sales under the 3 different Inventory costing methods. 

2. Complete the October Journal Entries to reflect the purchases and sales transactions (the company uses the perpetual method) under the FIFO costing method and post. 

3. Post the October entries to the worksheet columns for the October entries and complete the Trial Balance columns of the Worksheet. 

4. Review the aging of accounts receivable included with the project and the current balance in the Allowance Account (see worksheet) to determine the adjustment needed for Bad Debts. Any journal entry necessary should be included on the adjusting journal entries sheet. 

5. Prepare any necessary adjusting entries to reflect the Inventory count at year-end. These should be included on the adjusting entries sheet.

6. Post the adjusting entries to the worksheet and complete the Adjusted Trial Balance.

7. Prepare the necessary closing entries on the closing entries sheet.