Business, 19.05.2020 21:03 Gabriel134
A Co. started 2019 with $94,000 of merchandise inventory on hand. During 2019, $400,000 in merchandise was purchased on account. Purchases were all made f. o.b. shipping point. A paid freight charges of $7,500. Merchandise with an invoice amount of $5,000 was returned for credit. Cost of goods sold for the year was $380,000. A uses a perpetual inventory system. Assuming A uses the gross method to record purchases, what is the cost of goods available for sale
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A Co. started 2019 with $94,000 of merchandise inventory on hand. During 2019, $400,000 in merchandi...
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