4. Assume that VFA Co. uses periodic inventory system and has the following balances: Inventory, Jan. 1 Purchases Purchases returns and allowances Purchase discounts Freight in How much is the cost of goods available for sale? A. P1,131,000 B. P1,139,000 750,000 400,000 11,000 2% of purchases 16,000 C. P1,147,000 D. P1,200,000
4. Assume that VFA Co. uses periodic inventory system and has the following balances: Inventory, Jan. 1 Purchases Purchases returns and allowances Purchase discounts Freight in How much is the cost of goods available for sale? A. P1,131,000 B. P1,139,000 750,000 400,000 11,000 2% of purchases 16,000 C. P1,147,000 D. P1,200,000
Chapter10: Inventory
Section: Chapter Questions
Problem 11PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...
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