MODULE INVENTORY PERPETUAL METHODPlease 1) answer the following questions using the Perpetual Method 2) explain the reason for your answer 1) Found some of the goods from the June 1 purchase, costing $45, that were damaged and were returned to the seller; the seller reduced the amount we owed by the $45. 2) Some items costing $150 were not what we had ordered and could not be used. We returned these items, and the supplier reduced the amount we owed. 3) Paid the supplier the amount owed 4) Purchased $7,900 of goods on account. The freight charges on the goods were $50 5) Found some of the goods from the June 1 purchase, costing $45, that were damaged and were returned to the seller; the seller reduced the amount we owed by the $45. 6) Some items costing $150 were not what we had ordered and could not be used. We returned these items, and the supplier reduced the amount we owed.
MODULE INVENTORY PERPETUAL METHOD
Please 1) answer the following questions using the Perpetual Method 2) explain the reason for your answer
1) Found some of the goods from the June 1 purchase, costing $45, that were damaged and were returned to the seller; the seller reduced the amount we owed by the $45.
2) Some items costing $150 were not what we had ordered and could not be used. We returned these items, and the supplier reduced the amount we owed.
3) Paid the supplier the amount owed
4) Purchased $7,900 of goods on account. The freight charges on the goods were $50
5) Found some of the goods from the June 1 purchase, costing $45, that were damaged and were returned to the seller; the seller reduced the amount we owed by the $45.
6) Some items costing $150 were not what we had ordered and could not be used. We returned these items, and the supplier reduced the amount we owed.
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