5. Kielbasa Produce uses a periodic inventory system. Prepare a schedule of cost of goods...
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5. Kielbasa Produce uses a periodic inventory system. Prepare a schedule of cost of goods sold for each of the following months. a. January 1: Inventory $5000; Purchases $1000; Purchase Returns and Allowances $500; Purchase Discounts $200; Transportation-In $180; January 31 Inventory $4000. b. February 1: Inventory $4000; Purchases $3000; Purchase Returns and Allowances $350; Purchase Discounts $100; Transportation-In $75; February 28 Inventory $3500. C. March 1: Inventory $3500; Purchases $2900; Purchases Returns and Allowances $300; Purchases Discounts $100; Transportation-In $190; March 31 Inventory $3100. d. April 1: Inventory $3100; Purchases $5600; Purchases Returns and Allowances $600; Purchases Discounts $150 Transportation-In $320; April 30 Inventory $4700
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