Business, 17.02.2021 14:10 nickkungu92
Company Scalter has the following transactions in February. February 10, 50 units purchased $100 each. February 23, 40 units purchased $110 each. Company uses LIFO as inventory costing system and level of materiality is determined as $550. At the end of February, after taking physical inventory; 89 units have been found on hand and at the end of the month, current market value of a unit is $95. Make required journal entries for the end of February.
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Company Scalter has the following transactions in February. February 10, 50 units purchased $100 eac...
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