Show your workings clearly and explain your logic. You must provide one manual calculation of IRR to demonstrate that you understand the process.
January 5, 2018
Legal and Ethical Challenges in Business Organizations
January 5, 2018

Perpetual inventory system: journal entries. At the beginning of 20X3, Beehler Company implemented a computerized perpetual inventory system. The following transactions occurred:

Perpetual inventory system: journal entries. At the beginning of 20X3, Beehler Company implemented a computerized perpetual inventory system. The following transactions occurred:
• Purchases on account: 500 units @ $4 = $2,000
• Sales on account: 300 units @ $5 = $1,500
• Purchases on account: 600 units @ $5 = $3,000
• Sales on account: 300 units @ $5 = $1,500
a. Prepare journal entries for the above purchases and sales.
b. Calculate the balance in the firm’s Inventory account.

 

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