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Need steps on how to calculate the periodic inventory with the first-in,first-out and last-in,first-out and the average cost. This is the problem: Jan. 1 Inventory 168 units at $60 Apr. 15 Purchase 232 units at $65 Sept. 3 Purchase 80 units at $68 Nov. 23 ...
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What is the journal entry for this under the periodic inventory system: Sold goods on account for $21,000 and made cash sales of $18,000. This is what I think it is. Is this correct or is there more to it? Dr. Cash 18,800 Dr. A/R 21,000 Cr. Sales 39,800 View more questions Search
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