Inventoriable Costs - Perpetual
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Please help with journal entries, I have attached the full problem directly from the book and what I think the answers are. Thank you.
** Please see the attached file for the complete problem description **
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Solution Summary
This solution provides a guide to solving problem E8-4 relating to passing the correcting entries for the raw material inventory account for the Colin Davis Machine Company.
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Please see the attached file
E8-4 Inventoriable costs - perpetual
1 Raw Materials Inventory 8,100 This is correct
Accounts Payable 8,100 as you have done
2 Raw Materials Inventory 28,000 The terms are f.o.b. destination. This implies that title ...
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