The following summarizes Tesla's merchandising activities for the year. Cost of merchandise sold to customers Merchandise inventory, beginning-of-year Cost of merchandise purchases, gross amount Shrinkage on merchandise as of year-end Cost of transportation-in for merchandise purchases Cost of merchandise returned by customers and restored to inventory Discounts received from suppliers on merchandise purchases Returns to and allowances from suppliers on merchandise purchases $196,000 25,000 192,500 800 2,900 2,100 1,700 4,000 Enter the summarized activities in the two T-accounts below. Complete this question by entering your answers in the tabs below. Cost of Goods Sold Merchandise Inventory

The following summarizes Tesla's merchandising activities for the year. Cost of merchandise sold to customers Merchandise inventory, beginning-of-year Cost of merchandise purchases, gross amount Shrinkage on merchandise as of year-end Cost of transportation-in for merchandise purchases Cost of merchandise returned by customers and restored to inventory Discounts received from suppliers on merchandise purchases Returns to and allowances from suppliers on merchandise purchases $196,000 25,000 192,500 800 2,900 2,100 1,700 4,000 Enter the summarized activities in the two T-accounts below. Complete this question by entering your answers in the tabs below. Cost of Goods Sold Merchandise Inventory

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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