Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   How do I make an adjusting entry to Merchandise Inventory, in order to prepare the Fi (https://www.askmehelpdesk.com/showthread.php?t=573909)

  • May 1, 2011, 08:11 PM
    Scooter8
    How do I make an adjusting entry to Merchandise Inventory, in order to prepare the Fi
    At the end of March, adjustment data was entered:

    Merchandise Inventory March 31 196,139

    The Inventory On March 1st was recorded @ 200700

  • May 1, 2011, 09:29 PM
    pready

    Debit Cost of Goods Sold for the difference between the two amounts
    Credit Merchandise Inventory for the amount
  • May 2, 2011, 10:55 AM
    Scooter8
    So this would be the Method for the Perpetual system of accounting?

    • All times are GMT -7. The time now is 07:37 AM.