Question

My profit and loss statement is off $4,930. Could you provide a profit and loss? Thank you. Following are the November and December 2022 transactions for Computer Solutions. The company extends credit terms of ( n / 30 ), FOB shipping point, to all customers who purchase merchandise. Computer Solutions uses a perpetual inventory system and uses the gross method to record purchases and sales on account. Inventory is maintained using FIFO for general ledger purposes. The assignment requirements follow the transactions. (Please make sure you read these before recording the transactions in QuickBooks.)

          My profit and loss statement is off $4,930. Could you provide a profit and loss? Thank you.

Following are the November and December 2022 transactions for Computer Solutions. The company extends credit terms of ( n / 30 ), FOB shipping point, to all customers who purchase merchandise. Computer Solutions uses a perpetual inventory system and uses the gross method to record purchases and sales on account. Inventory is maintained using FIFO for general ledger purposes. The assignment requirements follow the transactions. (Please make sure you read these before recording the transactions in QuickBooks.)

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