QUESTION:1 Presented is information related to Rogers Co. for the month of January 2010. Ending inventory per perpetual records $21,520 Ending inventory actually on hand Cost of goods sold Freight out Insurance expense Rent expense Salary expense Sales discounts Sales returns and allowances Sales Instructions: 21,000 210,000 7,068 12,300 20,500 62,100 10,500 13,700 350,000 Prepare the necessary adjusting entry for inventory.

QUESTION:1 Presented is information related to Rogers Co. for the month of January 2010. Ending inventory per perpetual records $21,520 Ending inventory actually on hand Cost of goods sold Freight out Insurance expense Rent expense Salary expense Sales discounts Sales returns and allowances Sales Instructions: 21,000 210,000 7,068 12,300 20,500 62,100 10,500 13,700 350,000 Prepare the necessary adjusting entry for inventory.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter14: Adjustments And The Work Sheet For A Merchandising Business

Section: Chapter Questions

Problem 1SEB: ADJUSTMENT FOR MERCHANDISE INVENTORY USING T ACCOUNTS: PERIODIC INVENTORY SYSTEM Sandra Owens owns a...

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