Inventory is sold, so the journal entry is like this:
COGS (Debit) and Inventory (Credit)
Is there anything that I need to make on the cash flow statement?
Accounting 101 inventory question???? help?
2011-10-30 7:38 pm
回答 (1)
2011-11-01 6:55 am
✔ 最佳答案
When you make a sale, the entry isDr AR xxx (at sales price)
Cr Sales xxx
Dr COGS xxx (at cost price)
Cr Inventory xxx
Your cash flow statement starts with Net income, and you would adjust that as follows:
Net income xxx
(Increase)/decrease in AR (xxx)/xxx
(Increase)/decrease in inventory (xxx)/xxx
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