60. Following are the account balances from connery company’s statement of comprehensive income: Inventory, jan. 1, 2017 $34,000 Purchases 50,000 Purchase returns 5,000 Purchase discounts 4,000 Freight-in 6,000 Inventory, December 31,2017 15,000 Freight-out 8,000 Given this information, the cost of goods during 2017 is a. 51,000 b. 56,000 c. 46,000 d. 66,000
60. Following are the account balances from connery company’s statement of comprehensive income:
Inventory, jan. 1, 2017 $34,000
Purchases 50,000
Purchase returns 5,000
Purchase discounts 4,000
Freight-in 6,000
Inventory, December 31,2017 15,000
Freight-out 8,000
Given this information, the cost of goods during 2017 is
a. 51,000
b. 56,000
c. 46,000
d. 66,000
61. Following are the account balances from connery company’s statement of comprehensive income:
Inventory, jan. 1, 2017 $25,000
Purchases 35,000
Purchase returns 2,000
Purchase discounts 4,000
Freight-in 5,000
Inventory, December 31,2017 10,000
Freight-out 6,000
Given this information, the cost of merchandise available for sale during 2017 is
a. 69,000
b. 61,000
c. 65,000
d. 59,000
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