Kangaroo Jim Company reported beginning inventory of 210 units at a per unit cost of...
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Accounting
Kangaroo Jim Company reported beginning inventory of 210 units at a per unit cost of $25. It had the following purchase and sales transactions during the year: Jan 14 Sold 50 units at unit sales price of $45 on account. Apr. 9 Purchased 40 additional units at a per unit cost of $25 on account. Sept. 2 Sold 75 units at a sales price of $75 on account. Dec. 31 Counted inventory and determined 125 units were stil1 on hand. Required: (a) Record each transaction, assuming that Kangaroo Jim Company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the sale of inventory
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