A company using the periodic inventory system has the following account balances: Merchandise Inventory at the beginning of the year, $3,600; Transportation-In, $650; Purchases, $10,700; Purchase Returns and Allowances, $1,950; Purchase Discounts, $330. The cost of goods purchased is equal to a. $12,670. b. $17,230. c. $9,070. d. $8,420.

c. $9,070

Explanation:

The computation of the cost of goods purchased is shown below:

= Purchase made + transport cost - purchase return & allowances - purchase return

= $10,700 + $650 - $1,950 - $330

= $9,070

We simply applied the above formula

The same is to be considered

hence, the cost of goods purchased is $9,070

Therefore the correct option is c. $9,070

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.