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San Diego State University Operations And Supply Chain Management Assignment Help - Journal

Question - Claypool Hardware is the only hardware store in a remote area of northern Minnesota. Some of Claypool's
transactions during the current year are as follows:
Nov. 5 Sold lumber on account to Bemidji Construction, $13,390. The inventory subsidiary ledger shows
the cost of this merchandise was $9,105.
Nov. 9 Purchased tools on account from Owatonna Tool Company, $3,800.
Dec. 5 Collected in cash the $13,390 account receivable from Bemidji Construction.
Dec. 9 Paid the $3,800 owed to Owatonna Tool Company.
Dec. 31
Claypool's personnel counted the inventory on hand and determined its cost to be $182,080. The
accounting records, however, indicate inventory of $183,790 and a cost of goods sold of $695,222.
The physical count of the invent ...Read More

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