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Number of Unit Inventory Units Cost Unit NRV Item A 6,000 $47 $41 Item B 5,300 60 72 Item C 3,700 65 64 Item D 3,900 40 36 Required: 1. Based on the new information, prepare the journal entry required: 2. Change the Unit Cost for Item A to $30 and prepare the journal entry required: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on the new information, prepare the journal entry required: (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet A Record the cost of goods sold. >

Number of Unit Inventory Units Cost Unit NRV Item A 6,000 $47 $41 Item B 5,300 60 72 Item C 3,700 65 64 Item D 3,900 40 36 Required: 1. Based on the new information, prepare the journal entry required: 2. Change the Unit Cost for Item A to $30 and prepare the journal entry required: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on the new information, prepare the journal entry required: (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet A Record the cost of goods sold. >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Number of Unit Inventory Units Cost Unit NRV Item A 6,000 $47 $41 Item B 5,300 60 72 Item C 3,700 65 64 Item D 3,900 40 36 Required: 1. Based on the new information, prepare the journal entry required: 2. Change the Unit Cost for Item A to $30 and prepare the journal entry required: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on the new information, prepare the journal entry required: (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet A Record the cost of goods sold. >
Transcribed Image Text:Number of Unit Inventory Units Cost Unit NRV Item A 6,000 $47 $41 Item B 5,300 60 72 Item C 3,700 65 64 Item D 3,900 40 36 Required: 1. Based on the new information, prepare the journal entry required: 2. Change the Unit Cost for Item A to $30 and prepare the journal entry required: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on the new information, prepare the journal entry required: (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet A Record the cost of goods sold. >
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