Cost of Goods Sold Based on the following data, determine the cost of goods sold for July: Estimated returns of July sales $34,900 Inventory, July 1 190, 850 Inventory, July 31 160, 450 Purchases 1, 126, 000 Purchases returns and allowances 46, 000 Purchases discounts 23, 000 Freight in 17,500
Cost of Goods Sold Based on the following data, determine the cost of goods sold for July: Estimated returns of July sales $34,900 Inventory, July 1 190, 850 Inventory, July 31 160, 450 Purchases 1, 126, 000 Purchases returns and allowances 46, 000 Purchases discounts 23, 000 Freight in 17,500
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 42E: Cost of goods sold Based on the following data, determine the cost of goods sold for November:
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Cost of Goods Sold
Based on the following data, determine the cost of goods sold for July: Estimated returns of July sales $34,900
Inventory, July 1 190, 850
Inventory, July 31 160, 450
Purchases 1, 126, 000
Purchases returns and allowances 46, 000
Purchases discounts 23, 000
Freight in 17,500
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