Good day,
I was wondering if someone could please help me with my predicament . I was asked to record inventory but i've never done it before in Sage. I understand beg + purchase - Ending = inventory. I have debited the beginning inventory and I recorded all of the purchase invoices for the week. I was just wondering what the journal entry would be to complete this entry would be.
Here is what we have.
Beg $7,585.66
Purchases - $4,775.66
Ending - $6,251.85
Variance = $4,455.16
Thank you for your help!!