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Business, 13.01.2021 17:20 person779

, Inc., purchased inventory costing and sold % of the goods for . All purchases and sales were on account. later collected % of the accounts receivable. 1. Journalize these transactions for , which uses the perpetual inventory system. 2. For these transactions, show what will report for inventory, revenues, and expenses on its financial statements at the end of the month. Report gross profit on the appropriate statement. 1. Journalize these transactions for , which uses the perpetual inventory system.

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