When the physical count of Vaughn Company inventory had a cost of $4470 at year end and the unadjusted balance in Inventory was $4680, Vaughn will have to make the following entry: Inventory Cost of Goods Sold 210 210 Income Summary 210 Inventory 210 Cost of Goods Sold 4680 Inventory 4680 Cost of Goods Sold 210 Inventory 210

When the physical count of Vaughn Company inventory had a cost of $4470 at year end and the unadjusted balance in Inventory was $4680, Vaughn will have to make the following entry: Inventory Cost of Goods Sold 210 210 Income Summary 210 Inventory 210 Cost of Goods Sold 4680 Inventory 4680 Cost of Goods Sold 210 Inventory 210

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 36E: The following data were extracted from the accounting records of Harkins Company for the year ended...

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