The inventories of the Berry Company for the years 2010 and 2011 are as follows: Required Prepare

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The inventories of the Berry Company for the years 2010 and 2011 are as follows:

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Prepare the necessary journal entries at the end of each year to record the correct inventory valuation. Use the allowance method and assume that a periodic inventory system isused.

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Intermediate Accounting

ISBN: 978-0324659139

11th edition

Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones

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Question Posted: Dec 09, 2013 08:49 AM

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The inventories of the Berry Company for the years 2010 and 2011 are as follows: Required Prepare

Question:

Market January 1, 2010 December 31, 2010 December 31, 2011 Cost $10,000 13,000 15,000 $10,000 11,500 14,000

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2010 Dec 31 Income Summary 10000 Inventory 10000 To close be...View the full answer

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