The records of Whirlpools Inc. show the following data for 2020. Exercise 9-46 Periodic and...
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The records of Whirlpools Inc. show the following data for 2020. Exercise 9-46 Periodic and Perpetual income and RecordingS Period-End Adusting Purchases. $400,000 Beginning inventory $280,000 Sales revenue. $50,000 Expenses including income taxes. . $90,000 25% Entry LO2 Net income as a percent of sales revenue. . . . . 15% Tax rate for 2020... Required a. Reconstruct the income statement for this company. Assume a periodic inventory system. b. Prepare the required journal entry at period end to record ending inventory. Assume a periodic inventory system c. Prepare the required jounal entry at period end to record ending inventory. Assume a perpetual inventory system
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