Business
Business, 28.10.2021 04:00, skent1423

The inventories of Berry Company for the years 2019 and 2020 are as follows: Cost NRV January 1, 2019 $9,000 $9,000 December 31, 2019 13,000 11,500 December 31, 2020 15,000 14,500 Berry uses a perpetual inventory system and the FIFO inventory cost flow assumption. Required: 1. Assume the inventory that existed at the end of 2019 was sold in 2020. Prepare the necessary journal entries at the end of each year to record the correct inventory valuation if Berry uses the: a. direct method b. allowance method

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The inventories of Berry Company for the years 2019 and 2020 are as follows: Cost NRV January 1, 201...

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