Record the transactions of ds unlimited

Reference no: EM131521082

Question: Refer to the transactions in E6-9.

Required: 1. Record the transactions of DS Unlimited, assuming the company uses a periodic inventory system.

2. Record the period-end adjustment to cost of goods sold on August 31, assuming the company has no beginning inventory and ending inventory has a cost of $1,585

E6-9: DS Unlimited has the following transactions during August.

August 6 Purchases 50 handheld game devices on account from GameGirl, Inc., for $100 each, terms 1/10, n/60.

August 7 Pays $300 to Sure Shipping for freight charges associated with the August 6 purchase.

August 10 Returns to GameGirl five game devices that were defective.

August 14 Pays the full amount due to GameGirl.

August 23 Sells 30 game devices purchased on August 6 for $120 each to customers on account. The total cost of the 30 game devices sold is $3,170.

Required: Record the transactions of DS Unlimited, assuming the company uses a perpetual inventory system.

Reference no: EM131521082

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