Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the following information and considering that the book closing inventory of June: $ 13,624.17: ws Date 1/7 2/7 3/7 4/7 Store purchases $ 253.12

image text in transcribed
image text in transcribed
Using the following information and considering that the book closing inventory of June: $ 13,624.17: ws Date 1/7 2/7 3/7 4/7 Store purchases $ 253.12 S 545.223 $ 444.95 $ 819.91 Stores issues $ 417.89 $ 748.64 $ 241.21 $ 632.72 The book value of the stores inventory of July 5 should be: $ 13,646.913 $ 13,518.9 $ 12,214.72 $ 12.922 Consider that the actual closing inventory of June is 13.545.15 determine the dollar difference between book and actual inventory for the month: 220.13 $ 77.9 $ 79.02 S 198 $ Determine the difference between book and actual closing inventory figures as a percentage of issues where the total issues value for June is $ 6,599 32 6.1% 1.2. OOO 2.1% 353 According to the percentage of issues obtained above, one can deduce that." a. Warrant close inspection is needed b. No investigation by management is needed c. Small possible errors d. Both b & care correct Clear for Next Back Never submit passwords through Google Forme was created inside of Lebanese nationale

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Federal Tax Accounting 2022

Authors: Frank L. Brunetti

1st Edition

080805631X, 9780808056317

More Books

Students also viewed these Accounting questions

Question

CL I P COL Astro- L(1-cas0) Lsing *A=2 L sin(0/2)

Answered: 1 week ago