f 3 pts They sell 2200 worth of inventory to their customers

f (3 pts) They sell $2,200 worth of inventory to their customers for $3,100 on to th account. (3 pts) They incur $100 in depreciation for their manufacturing equipment and $200 in other misc. manufacturing costs that they pay in cash. 8) (2 pts) Adjust COGS if needed. If not needed, write \"no entry needed.\" What is your adjusted COGS? h)

Solution

JOURNAL ENTRIES Ref Account title Debit Credit f Account receivable $3,100 Sales $3,100 Cost of goods sold $2,200 Inventory $2,200 g Depreciation $100 Accumulated depreciation $100 Misc. Manufacturing cost $200 Cash $200 h Cost of goods sold(COGS) $300 Misc. Manufacturing cost $200 Depreciation $100