The following information is provided: Beginning inventory $64,000 Purchases 128,000 Purchase returns and allowances 9,600 Purchase discounts 12,800 Freight-in ? Cost of goods available for sale 176,000 Ending inventory ? Cost of goods sold 70,400 Given the information above, determine the amount of freight-in Oa. $3,200 Ob. $9,600 Oc. $12,800 Od. $6,400
The following information is provided: Beginning inventory $64,000 Purchases 128,000 Purchase returns and allowances 9,600 Purchase discounts 12,800 Freight-in ? Cost of goods available for sale 176,000 Ending inventory ? Cost of goods sold 70,400 Given the information above, determine the amount of freight-in Oa. $3,200 Ob. $9,600 Oc. $12,800 Od. $6,400
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 7MCQ
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