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Business / Glencoe Accounting: First Year Course, Student Edition 1 / Chapter 25 / Problem 25-1

Glencoe Accounting: First Year Course, Student Edition | 1st Edition | ISBN: 9780078688294 | Authors: Glencoe

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Preparing Inventory Reports In your working papers, complete the manual inventory sheet

Chapter 25, Problem 25-1

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QUESTION:

Preparing Inventory Reports

In your working papers, complete the manual inventory sheet for Carole’s Gift Shop. Use today’s date and your name as the clerk.

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QUESTION:

Preparing Inventory Reports

In your working papers, complete the manual inventory sheet for Carole’s Gift Shop. Use today’s date and your name as the clerk.

ANSWER:

Step 1 of 2

Once a year, a business is required to do a physical count of its inventory as part of its internal control system.

INVENTORY SHEET
DATE 15.02.2022 CLERK SANCHITA GUPTA PAGE
STOCK NO.	ITEM	UNIT	QUANTITY	UNIT COST ($)	TOTAL VALUE ($)
1790	Greeting Cards	Doz.	32	6.00	142
2217	Plush Toys	Each	20	2.50	50
1900	Balloons	Doz.	12	.50	6
1201	Wrapping Paper	Each	30	1.12	33.6
1205	Ribbon	Spool	25	.75	18.75
3495	Novelty Buttons	Doz.	12	2.50	30
2722	Music Boxes	Doz.	6	60.00	120
4200	Party Supplies	Doz.	10	6.50	65
1907	Gift Boxes	Doz.	5	2.75	13.75
1742	Vases	Doz.	2	12.50	25
	Total				$504.1

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