Introduction to Accounting for Inventory
Complications in Accounting for Inventory Cost Flows Example: Assume you are starting a used car business and buy 3 cars for resale. If you buy an old VW Bug for $2,000, a classic Camaro for $4,000, and an old souped-up Pinto for $6,000, the journal entries to record their purchase would be: 2,000 ................
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