Reference no: EM133025471
Question - Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred.
Sept. 6 Purchased calculators from Dragoo Co. at a total cost of $1,650, on account, terms n/30.
Sept. 9 Paid freight of $50 on calculators purchased from Dragoo Co.
Sept. 10 Returned calculators to Dragoo Co. for $66 credit because they did not meet specifications.
Sept. 12 Sold calculators costing $520 for $690 to Fryer Book Store, on account, terms n/30.
Sept. 14 Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $34.
Sept. 20 Sold calculators costing $570 for $760 to Heasley Card Shop, on account, terms n/30.
Required - Prepare a tabular summary to record the transactions for the month of September for Office Depot using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses.
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Prepare a tabular summary to record the transactions
: Prepare a tabular summary to record the transactions for the month of September for Office Depot using a perpetual inventory system
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