Russell Retail Group begins the year with inventory of $56,000 and ends the year with inventory of $46,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6 Purchase on September 8 Purchase on December 4 $ 211,000 131,000 161,000 411,000 Required: Calculate cost of goods sold for the year. Beginning inventory Cost of goods available for sale Cost of goods sold Russell Retail Group begins the year with inventory of $56,000 and ends the year with inventory of $46,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6 Purchase on September 8 Purchase on December 4 $ 211,000 131,000 161,000 411,000 Required: Calculate cost of goods sold for the year. Beginning inventory Cost of goods available for sale of conde cold Add: Ending inventory Less: Ending inventory Russell Retail Group begins the year with inventory of $56,000 and ends the year with inventory of $46,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6 Purchase on September 8 Purchase on December 4 $ 211,000 131,000 161,000 411,000 Required: Calculate cost of goods sold for the year. Beginning inventory ca of anode ausilable for cola Add: Purchases Less: Purchases Gamegirl Inc., has the following transactions during August. August 6 Sold 56 handheld game devices for $130 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 56 game devices sold, was $110 each. August 10 DS Unlimited returned six game devices purchased on 6th August since they were defective. August 14 Received full amount due from DS Unlimited. Required: Prepare the transactions for GameGirl, Inc., assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 > Record the sale of inventory on account. Note: Enter debits before credits. Date General journal Debit Credit August 06 Gamegirl Inc., has the following transactions during August. August 6 Sold 56 handheld game devices for $130 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 56 game devices sold, was $110 each. August 10 DS Unlimited returned six game devices purchased on 6th August since they were defective. August 14 Received full amount due from DS Unlimited. Required: Prepare the transactions for GameGirl, Inc., assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 > Record the cost of inventory sold. Note: Enter debits before credits. Date General journal Debit Credit August 06 Gamegirl Inc., has the following transactions during August. August 6 Sold 56 handheld game devices for $130 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 56 game devices sold, was $110 each. August 10 DS Unlimited returned six game devices purchased on 6th August since they were defective. August 14 Received full amount due from DS Unlimited. Required: Prepare the transactions for GameGirl, Inc., assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 > DS Unlimited returned six game devices purchased on 6th August since they were defective. Note: Enter debits before credits. Date General journal Debit Credit August 10 Gamegirl Inc., has the following transactions during August. August 6 Sold 56 handheld game devices for $130 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 56 game devices sold, was $110 each. August 10 DS Unlimited returned six game devices purchased on 6th August since they were defective. August 14 Received full amount due from DS Unlimited. Required: Prepare the transactions for GameGirl, Inc., assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 > Received full amount due from DS Unlimited. Note: Enter debits before credits. Date General journal Debit Credit August 14

Question

25-05-2023
Business

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Russell Retail Group begins the year with inventory of $56,000 and ends the year with inventory of $46,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6 Purchase on September 8 Purchase on December 4 $ 211,000 131,000 161,000 411,000 Required: Calculate cost of goods sold for the year. Beginning inventory Cost of goods available for sale Cost of goods sold Russell Retail Group begins the year with inventory of $56,000 and ends the year with inventory of $46,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6 Purchase on September 8 Purchase on December 4 $ 211,000 131,000 161,000 411,000 Required: Calculate cost of goods sold for the year. Beginning inventory Cost of goods available for sale of conde cold Add: Ending inventory Less: Ending inventory Russell Retail Group begins the year with inventory of $56,000 and ends the year with inventory of $46,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6 Purchase on September 8 Purchase on December 4 $ 211,000 131,000 161,000 411,000 Required: Calculate cost of goods sold for the year. Beginning inventory ca of anode ausilable for cola Add: Purchases Less: Purchases Gamegirl Inc., has the following transactions during August. August 6 Sold 56 handheld game devices for $130 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 56 game devices sold, was $110 each. August 10 DS Unlimited returned six game devices purchased on 6th August since they were defective. August 14 Received full amount due from DS Unlimited. Required: Prepare the transactions for GameGirl, Inc., assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 > Record the sale of inventory on account. Note: Enter debits before credits. Date General journal Debit Credit August 06 Gamegirl Inc., has the following transactions during August. August 6 Sold 56 handheld game devices for $130 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 56 game devices sold, was $110 each. August 10 DS Unlimited returned six game devices purchased on 6th August since they were defective. August 14 Received full amount due from DS Unlimited. Required: Prepare the transactions for GameGirl, Inc., assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 > Record the cost of inventory sold. Note: Enter debits before credits. Date General journal Debit Credit August 06 Gamegirl Inc., has the following transactions during August. August 6 Sold 56 handheld game devices for $130 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 56 game devices sold, was $110 each. August 10 DS Unlimited returned six game devices purchased on 6th August since they were defective. August 14 Received full amount due from DS Unlimited. Required: Prepare the transactions for GameGirl, Inc., assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 > DS Unlimited returned six game devices purchased on 6th August since they were defective. Note: Enter debits before credits. Date General journal Debit Credit August 10 Gamegirl Inc., has the following transactions during August. August 6 Sold 56 handheld game devices for $130 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 56 game devices sold, was $110 each. August 10 DS Unlimited returned six game devices purchased on 6th August since they were defective. August 14 Received full amount due from DS Unlimited. Required: Prepare the transactions for GameGirl, Inc., assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 > Received full amount due from DS Unlimited. Note: Enter debits before credits. Date General journal Debit Credit August 14

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