The Journal Entry Necessary at the End of the Period

question 122

Multiple Choice

The journal entry necessary at the end of the period to adjust cost of goods sold for the ending inventory still on hand will include which of the following?

• A) Debit Inventory, $6,250.
• B) Credit Cost of goods sold, $11,250.
• C) Credit Purchases, $10,200
• D) Credit Inventory, $5,000.

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Definitions:

Cell

A small room in which a prisoner is locked up or in which a monk or nun sleeps, highlighting a different use of the word in a separate context.

Photosynthesis

The process by which green plants and some other organisms use sunlight to synthesize foods from carbon dioxide and water.

Glucose

A simple sugar that is an important energy source in living organisms and is a component of many carbohydrates.

Carbon Dioxide

A colorless gas with a density about 60% higher than that of dry air, contributing to the greenhouse effect and global warming.