Assume an outlet of Bentley began October 2022 with 40 purses that cost the store $40 each. The sale price of these purses was $70. During October, the store completed these inventory transactions: October 3 Sale 16 units $70 sale price October 8 Purchase 80 units at $41 per unit October 11 Sale 24 units at $70 sale price October 19 Purchase 9 units at $40 unit price October 24 Sale 30 units at $72 sale price October 30 Purchase 18 units at $42 unit price

Assume an outlet of Bentley began October 2022 with 40 purses that cost the store $40 each. The sale price of these purses was $70. During October, the store completed these inventory transactions: October 3 Sale 16 units $70 sale price October 8 Purchase 80 units at $41 per unit October 11 Sale 24 units at $70 sale price October 19 Purchase 9 units at $40 unit price October 24 Sale 30 units at $72 sale price October 30 Purchase 18 units at $42 unit price

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter20: Accounting For Inventory

Section: Chapter Questions

Problem 1MP

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