A company using the periodic inventory system has the following account balances: Merchandise Inventory at the beginning of the year, $3,600; Freight-In, $650; Purchases, $10,700; Purchases Returns and Allowances, $1,950; Purchases Discounts, $330. The cost of merchandise purchased is equal to
A. $12,670
B. $9,070
C. $8,420
D. $17,230
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A company using the periodic inventory system has the following account balances: Merchandise Inventory at the beginning of the year, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Scenario: mario wants a job working with cars. he knows a lot about certain kinds of cars, and enjoyed his high school class on car mechanics.
Answers (1)
Nearly 10 years ago, your company adopted a crm system that worked great for many years while the company grew. even with crm, some information silos kept on growing with the company.
Answers (1)
Rapidly increasing health costs have been a major political concern since at least 1992. Suppose the government sets the maximum price for a normal doctor's visit at $50 to control rising health costs but the current market price is $100.
Answers (1)
What is a negative externality? Group of answer choices 1. Harm from economic activity that affects persons not involved in the economic transaction 2. Benefit from economic activity that affects persons not involved in the economic transaction 3.
Answers (1)
g Which of the following factors would be most likely to lead to an increase in interest rates in the economy? a. The Federal Reserve decides to try to stimulate the economy. b. There is a decrease in expected inflation. c.
Answers (1)
New Questions in Business
As a source of information about dress, the advantage of extant costumes or artifacts is that: a. We can see, feel, and describe how the object is made. b. The form of dress is exaggerated can. They prescribe how to dress. d.
Answers (1)
Match the following definitons with appropriate options given in below: Definitions: 1. A graphical representation of the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various
Answers (1)
Prior to recording adjusting entries, the Office Supplies account had a $372 debit balance. A physical count of the supplies showed $112 of unused supplies available. The required adjusting entry is:
Answers (1)
Swift Company manufactures two different bicycle models. Swift produces a high volume of products using standardized production runs and does very little product customization. Swift uses what type of technology structure?
Answers (1)
Select the item that can be answered by using knowledge. 1. A transaction's order date, amount sold, and quantity ordered 2. Taking into account external reasons for the recent underperformance of a good salesperson 3.
Answers (1)