Answered: Below are some of the account balances…

Below are some of the account balances of FDN Company. Purchases P 1,256,500 Purchase returns and allowances 36,725 Freight in 30,800

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 12PA: Compare the calculations for gross margin for A76 Company, based on the results of the perpetual...

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Question

Please answer this question with brief solution. I need the answer ASAP thank you!

Below are some of the account balances of FDN Company.
Purchases
P 1,256,500
Purchase returns and allowances
36,725
Freight in
30,800
Freight out
22,950
Beginning inventory
294,150
Cost of goods sold
1,232,825
How much is the total cost of goods available for sale?

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