Show how to account for inventory transactions

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Reference no: EM13746045

(Learning Objective 1: Show how to account for inventory transactions)Journalize the following assumed transactions for The Soda Pop Company. Show amounts in billions.

a. Cash purchases of inventory, $4.5 billion

b. Sales on account, $18.9 billion

c. Cost of goods sold (perpetual inventory system), $3.9 billion

d. Collections on account, $18.7 billion

Reference no: EM13746045

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