John’s specialty store uses a perpetual inventory system. the following are some inventory transactions for the month of may:
(1) john’s purchased merchandise on account for $6,100. freight charges of $850 were paid in cash.
(2) john’s returned some of the merchandise purchased in (1). the cost of the merchandise was $1,150 and john’s account was credited by the supplier.
(3) merchandise costing $3,350 was sold for $6,300 in cash.

prepare the necessary journal entries to record these transactions.

How do primary and secondary industries differ

Acar manufacturer uses new machines that automatically assemble an engine from parts fed to the system. the machine can regulate the speed ofassembly depending on the number of parts produced. which type of technology does this machine use? angenoem mense wat ons in matin en esta va ser elthe machine uses

Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)