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Francis Bellamy Company had the following four inventory purchases in June: Beginning Inventory 150 units $1,500...

Francis Bellamy Company had the following four inventory purchases in June:

Beginning Inventory 150 units $1,500

June 10 200 units $2,200

June 15 200 units $2,400

June 28 200 units $2,600

$8,700

A physical count of merchandise inventory on June 30 reveals that there are 80 units on hand. Using FIFO, fill in the adjusting journal entry below using the periodic system for inventory.

Enter the answers as whole numbers without a comma or dollar sign. If there is no number for the debit or credit, enter NONE.

Account Dr Cr

Inventory

COGS

Purchases

Solutions

Expert Solution

ekkarill92 answered 1 year ago
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