4) The Lothridge Wholesale Beverage Company purchases soft drinks from producers and then sells them to retailers. The company begins 2013 with merchandise inventory of 120,000 baht on hand. During 2013 additional merchandise is purchased on account at a cost of 600,000 baht. Sales for the year, all on account, totaled 820,000 baht. The cost of the soft drinks sold is 540,000 baht. Lothridge uses the perpetual inventory system to keep track of both inventory quantities and inventory costs.
Required:
1. Prepare the necessary journal entries to record these transa
4) The Lothridge Wholesale Beverage Company purchases soft drinks from producers and then sells them to retailers. The company begins 2013 with merchandise inventory of 120,000 baht on hand. During 2013 additional merchandise is purchased on account at a cost of 600,000 baht. Sales for the year, all on account, totaled 820,000 baht. The cost of the soft drinks sold is 540,000 baht. Lothridge uses the perpetual inventory system to keep track of both inventory quantities and inventory costs.Required:1. Prepare the necessary journal entries to record these transa
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