Beginning merchandise inventory $42,000 Ending merchandise inventory 37,000 Purchases 93,000 Purchases returns and allowances 4,650 Purchases discounts 7,154 Freight-in 420
Beginning merchandise inventory $42,000 Ending merchandise inventory 37,000 Purchases 93,000 Purchases returns and allowances 4,650 Purchases discounts 7,154 Freight-in 420
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 6MCQ: Refer to the information for Morgan Inc. above. If Morgan uses a perpetual inventory system, what is...
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The following information pertains to Bradley Company, which uses a periodic inventory system:
What is Bradley Company's cost of goods sold at the end of the period?
Beginning merchandise inventory | $42,000 |
Ending merchandise inventory | 37,000 |
Purchases | 93,000 |
Purchases returns and allowances | 4,650 |
Purchases discounts | 7,154 |
Freight-in | 420 |
What is Bradley Company's cost of goods sold at the end of the period?
a. $44,196
b. $98,000
c. $98,420
d. $86,616
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