The following information pertained to Azur Co. for the year: Purchases $102,800 Purchases discounts 10,280 Freight-in 15,420 Freight-out 5,140 Beginning inventory 30,840 Ending inventory 20,560 What amount should Azur report as cost of goods sold for the year?
The following information pertained to Azur Co. for the year: Purchases $102,800 Purchases discounts 10,280 Freight-in 15,420 Freight-out 5,140 Beginning inventory 30,840 Ending inventory 20,560 What amount should Azur report as cost of goods sold for the year?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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The following information pertained to Azur Co. for the year:
Purchases | $102,800 |
Purchases discounts | 10,280 |
Freight-in | 15,420 |
Freight-out | 5,140 |
Beginning inventory | 30,840 |
Ending inventory | 20,560 |
What amount should Azur report as cost of goods sold for the year?
a.$128,500
b.$118,220
c.$123,360
d.$102,800
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