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Discuss dempsey uses the perpetual inventory method

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Reference no: EM131811240

Dempsey Inc. is a retailer operating in British Columbia. Dempsey uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Dempsey Inc. for the month of January 2017.

Date Description Quantity Unit Cost or Selling Price
January 1 Beginning inventory
 100 $13
January 5 Purchase 139 16
January 8 Sale 111 27
January 10 Sale return 10 27
January 15 Purchase 55 18
January 16 Purchase return 5 18
January 20 Sale 88 31
January 25 Purchase 18 20

 

 

Reference no: EM131811240

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