Below is a table identifying all the accounts in the Cost of Goods Sold Section of the Profit and LossStatement. What are the purchase returns and cost of goods available for sale amounts?Cost ofGoodsPurchases Inwards Available Stock Goodsfor SaleCostOpeningStockClosingPurchasesNetFreightofPurchasesReturnsSold10 00024 000?20,500800?9 000 22,300Select one:О а. 3,500 and 19,700O b. 3,500 and 31,300О с. 13,500 аnd 31,300O d. 13,500 and 18,000

Net Purchases = Purchases - Purchases Returns Cost of Goods available for sale = Opening stock + Net…

Below is a table identifying all the accounts in the Cost of Goods Sold Section of the Profit and Loss Statement. What are the purchase returns and cost of goods available for sale amounts? Cost of Goods Closing Purchases Inwards Available Stock Goods for Sale Cost Opening Stock Purchases Net Freight of Purchases Returns Sold 10 000 24 000 ? 20,500 800 ? 9 000 22,300 Select one: a. 3,500 and 19,700 O b. 3,500 and 31,300 O c. 13,500 and 31,300 O d. 13,500 and 18,000

Below is a table identifying all the accounts in the Cost of Goods Sold Section of the Profit and Loss Statement. What are the purchase returns and cost of goods available for sale amounts? Cost of Goods Closing Purchases Inwards Available Stock Goods for Sale Cost Opening Stock Purchases Net Freight of Purchases Returns Sold 10 000 24 000 ? 20,500 800 ? 9 000 22,300 Select one: a. 3,500 and 19,700 O b. 3,500 and 31,300 O c. 13,500 and 31,300 O d. 13,500 and 18,000

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter5: Accounting For Retail Businesses

Section: Chapter Questions

Problem 40E: Identify items missing in determining cost of goods sold For (a) through (e), identify the items...

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