Required information [The following information applies to the questions displayed below.] Home Hardware reported beginning inventory of 35 shovels, for a total cost of $175. The company had the...

Record the end of period adjustment to determine the amount of cost of goods sold, including any "book-to-physical" adjustment that might be needed. (How to get the inventory, ending?

Extracted text: Required information [The following information applies to the questions displayed below.] Home Hardware reported beginning inventory of 35 shovels, for a total cost of $175. The company had the following transactions during the month: Sold 9 shovels on account at a selling price of $10 per unit. January 2 January 16 Sold 12 shovels on account at a selling price of $10 per unit. January 18 Bought 4 shovels on account at a cost of $5 per unit. January 19 Sold 12 shovels on account at a selling price of $10 per unit. January 24 Bought 12 shovels on account at a cost of $5 per unit. January 31 Counted inventory and determined that 15 units were on hand.

Record the end of period adjustment to determine the amount of cost of goods sold, including any "book-to-physical" adjustment that might be needed. Note: Enter debits before credits. Date General Journal Debit Credit January 31 Cost of Goods Sold 180 Inventory, Ending -175 Record entry Clear entry View general journal "/>
Extracted text: Required: 1. Prepare the journal entries that would be recorded using a periodic inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 6 > Record the end of period adjustment to determine the amount of cost of goods sold, including any "book-to-physical" adjustment that might be needed. Note: Enter debits before credits. Date General Journal Debit Credit January 31 Cost of Goods Sold 180 Inventory, Ending -175 Record entry Clear entry View general journal