Problem%209-7%20ACC2100

Problem%209-7%20ACC2100 - Total Purchases _354,800_________...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Sales $ 583,000 Less: Sales Returns 6,600 Net Sales 576,400 Less: Cost of Goods Sold Beginning Inventory $ 53,600 Plus Purchases: $368,000 Less: Returns and Allowances 11,200 Purchase Discounts __ 5,800______ Net Purchases 351,000 Add Freight In ____3,800_____
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Total Purchases _354,800_________ Total Goods Available for Sale 408,400 Less Ending Inventory __________ Cost of Goods Sold 345,840 $408,400 345,840 = $ 62,560 Calculated Inventory $62,560 less 2,900 = $59,660...
View Full Document

Ask a homework question - tutors are online