Journalize the following transactions for Brown Company using the gross method of accounting for sales discounts. Assume a perpetual inventory system. Also, assume a constant gross profit ratio for all items sold. Make sure to enter the day for each separate transaction. October 4 Sold goods costing $8,400 to Lee Company on account, $14,000, terms 4/10, n/30.
October 10 Lee Company was granted an allowance of $700 for returned merchandise that was previously purchased on account. The returned goods are in perfect condition.
October 14 Received the amount due from Lee Company.

Jimmy's delicatessen sells large tins of tom tucker's toffee. the deli uses a periodic review system, checking inventory levels every 88 days, at which time an order is placed for more tins. order lead time is 22 days. daily demand is a constant 1515 tins, so average demand during the reorder period and order lead time (1010 days) is 150150 tins. draw a sawtooth diagram. assume that the beginning inventory level is equal to the restocking level and the desired service level is 99.9%. what is the safety stock level? (hint: look at the formula for calculating restocking level.) what is the average inventory level? the safety stock level is average inventory level is __chart: time (10,20,30), tins (0,150) lines touching both axisthe safety stock level is 0 tinsthe average inventory level is 75 tins