EXERCISE- AVERAGE COST METHOD 1) 01.01.2019 Beginning inventory amounts to 16.000 TL (200 chairs, 80...
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Accounting
EXERCISE- AVERAGE COST METHOD 1) 01.01.2019 Beginning inventory amounts to 16.000 TL (200 chairs, 80 TL each) 2) 30.01.2019 Purchased 180 chairs on credit. Each chair priced 100 TL, total cost is 18.000 TL 3) 28.02.2019 Sold 120 chairs on credit. Each chair priced 110 TL, total amount is 13.200 TL 4) 15.03.2019 Purchased 100 chairs for cash. Each chair priced 60 TL totalling 7.200 TL 5) 31.03.2019 Sold 120 chairs on credit. Each chair priced 110 TL, total amount is 13.200 TL Present the journal entries and post them into the ledger accounts
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