At the end of last year, Helen's, Inc. (uses a periodic inventory system with a physical inventory count taken only at y
Posted: Wed Jul 06, 2022 6:25 am
- At The End Of Last Year Helen S Inc Uses A Periodic Inventory System With A Physical Inventory Count Taken Only At Y 1 (35.3 KiB) Viewed 13 times
Based on the foregoing information ,the balance in the inventoryaccount at January 31 was:
At the end of last year, Helen's, Inc. (uses a periodic inventory system with a physical inventory count taken only at year-end) had merchandise costing $115,000 in inventory. During January of the current year, the company purchased merchandise costing $35,000, and sold merchandise which it had purchased at a total cost of $55,000.