Prepare the necessary closing entries

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Reference no: EM133901299

Problem

AP Presented below is selected information related to Garland Co. for the year ended January 31, 2022. Ending inventory per Insurance expense $12,000 perpetual records $21,600 Rent expense 20,000 Ending inventory actually Salaries and wages expense 55,000 on hand 21,000 Sales discounts 10,000 Cost of goods sold 218,000 Sales returns and allowances 13,000 Freight-out 7,000 Sales revenue 380,000

Instructions

Prepare the necessary adjusting entry for inventory. Prepare the necessary closing entries. Get the instant assignment help.

Reference no: EM133901299

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