Required a. Record the inventory transactions in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list Date 03/05 Inventory Cash 04/10 04/10 06/19 06/19 09/16 11/28 11/28 Cash Sales revenue Cost of goods sold Inventory Cash Sales revenue Cost of goods sold Inventory Inventory Cash General Journal Cash Sales Cost of goods sold Gross margin Sales revenue Cost of goods sold Inventory journal entry worksheet $ 67,110 Debit 18,810 22,195 24,125 14,560 20,790 Credit 18,810 22,195 24,125 14,560 Calculate the gross margin Pam's Creations would report on the 2016 income statement. (Amounts to be deducted should be indicated with a minus sign.) 20,790
Required a. Record the inventory transactions in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list Date 03/05 Inventory Cash 04/10 04/10 06/19 06/19 09/16 11/28 11/28 Cash Sales revenue Cost of goods sold Inventory Cash Sales revenue Cost of goods sold Inventory Inventory Cash General Journal Cash Sales Cost of goods sold Gross margin Sales revenue Cost of goods sold Inventory journal entry worksheet $ 67,110 Debit 18,810 22,195 24,125 14,560 20,790 Credit 18,810 22,195 24,125 14,560 Calculate the gross margin Pam's Creations would report on the 2016 income statement. (Amounts to be deducted should be indicated with a minus sign.) 20,790
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
Please do not give solution in image format thanku
![Required
a. Record the inventory transactions in general journal format.
(If no entry is required for a transaction/event, select "No
journal entry required" in the first account field.)
view transaction list
Date
03/05 Inventory
Cash
04/10
04/10
06/19
06/19
09/16
11/28
11/28
Cash
Sales revenue
Cost of goods sold
Inventory
Cash
Sales revenue
Cost of goods sold
Inventory
Inventory
Cash
Cash
Sales
Cost of goods sold
Gross margin
General Journal
Sales revenue
Cost of goods sold
Inventory
journal entry worksheet
$ 67,110
Debit
18,810
22,195
24,125
14,560
20,790
Credit
18,810
22,195
24,125
14,560
Calculate the gross margin Pam's Creations would report on
the 2016 income statement. (Amounts to be deducted
should be indicated with a minus sign.)
20,790](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fac69951b-8728-46ae-8bfb-4f439eaff53e%2F3a64645c-b89f-4bc6-bc75-674408893ee4%2Fvqf1shq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required
a. Record the inventory transactions in general journal format.
(If no entry is required for a transaction/event, select "No
journal entry required" in the first account field.)
view transaction list
Date
03/05 Inventory
Cash
04/10
04/10
06/19
06/19
09/16
11/28
11/28
Cash
Sales revenue
Cost of goods sold
Inventory
Cash
Sales revenue
Cost of goods sold
Inventory
Inventory
Cash
Cash
Sales
Cost of goods sold
Gross margin
General Journal
Sales revenue
Cost of goods sold
Inventory
journal entry worksheet
$ 67,110
Debit
18,810
22,195
24,125
14,560
20,790
Credit
18,810
22,195
24,125
14,560
Calculate the gross margin Pam's Creations would report on
the 2016 income statement. (Amounts to be deducted
should be indicated with a minus sign.)
20,790
![Pam's Creations had the following sales and purchase
transactions during 2016. Beginning inventory consisted of 210
items at $89 each. The company uses the FIFO cost flow
assumption and keeps perpetual inventory records.
Date
Mar. 5
Apr. 10
June 19
Sept. 16
Nov. 28
Transaction
Purchased
Sold
Sold
Purchased
Sold
Description
190 items @ $ 99
115 items @ $ 193
125 items @ $ 193
140 items$ 104
105 items @ $ 198](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fac69951b-8728-46ae-8bfb-4f439eaff53e%2F3a64645c-b89f-4bc6-bc75-674408893ee4%2Fzdu821g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Pam's Creations had the following sales and purchase
transactions during 2016. Beginning inventory consisted of 210
items at $89 each. The company uses the FIFO cost flow
assumption and keeps perpetual inventory records.
Date
Mar. 5
Apr. 10
June 19
Sept. 16
Nov. 28
Transaction
Purchased
Sold
Sold
Purchased
Sold
Description
190 items @ $ 99
115 items @ $ 193
125 items @ $ 193
140 items$ 104
105 items @ $ 198
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