[john kane]

omg this is so dull.

[ QUOTE ]
When preparing an extended trial balance:

opening inventory will be a debit balance in the trial balance
closing inventory must be entered into the adjustments column
the entry for closing inventory is both a debit (asset in the balance sheet) and a credit (deduction from cost of sales)
each figure must be correctly extended into the income statement and balance sheet columns


[/ QUOTE ]

orly