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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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8 years ago
From the following details of a merchandiser, calculate the Cost of Goods Sold. (Assume the merchandiser uses the periodic inventory system.)

Net Sales   $199,000
Purchases   93,000
Purchase Returns and Allowances   1,800
Purchase Discounts   1,350
Freight In   1,450
Beginning Merchandise Inventory   62,000
Ending Merchandise Inventory   37,000

A) $114,850
B) $116,300
C) $54,300
D) $64,850
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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8 years ago
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H3Ko Author
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#2
7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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