Homework Answers
Net purchases = Purchases - Returns = 480,000-4,000 = 476,000
Net purchases - discount = 476,000 - 1% = 471,240
Cost of purchases = 471,240 + 9,000 = 480,240
Ending inventory
= Beginning inventory + Cost of purchases - Cost of Goods Sold
= 95,000 + 480,240 - 377,000
= 198,240
Add Answer to:
Northwest Fur Co. started 2021 with $95.000 of merchandise inventory on hand. During 2021. $480.000 in...
Northwest Fur Co. Started 2021 with $111.000 of merchandise inventory on hand. During 2021, $480,000 in...
Northwest Fur Co. Started 2021 with $111.000 of merchandise inventory on hand. During 2021, $480,000 in merchandise was purchased on account with credit terms of 2/15. n/45. All discounts were taken. Purchases were all made fo.b. shipping point Northwest paid freight charges of $8.100. Merchandise with an invoice amount of $3.300 was returned for credit. Cost of goods sold for the year was $376,000. Northwest uses a perpetual inventory system Assuming Northwest uses the gross method to record purchases, what...
Northwest Fur Co started 2021 with $111000 of merchandise inventory on hand. During 2021 $480,000 in...
Northwest Fur Co started 2021 with $111000 of merchandise inventory on hand. During 2021 $480,000 in merchandise was purchased on account with credit terms ol2/15, 1:45. All discounts were taken. Purchases were all made fob shipping point. Northwest paid freight charges of $8.00 Merchandise with an invoice amount of $300 was returned to credit cost of goods sold for the year was $376,000. Northwest uses a perpetual inventory system Assuming Northwest uses the gross method to record purchases, what is...
Northwest Fur Co. started 2021 with $95,000 of merchandise inventory on hand. During 2021, $440,000 in...
Northwest Fur Co. started 2021 with $95,000 of merchandise inventory on hand. During 2021, $440,000 in merchandise was purchased on account with credit terms of 3/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Northwest paid freight charges of $9,100. Merchandise with an invoice amount of $3,800 was returned for credit. Cost of goods sold for the year was $365,000. Northwest uses a perpetual inventory system. Assuming Northwest uses the gross method to record purchases, what...
Northwest Fur Co. started 2013 with $111,000 of merchandise inventory on hand. During 2013, $520,000 in...
Northwest Fur Co. started 2013 with $111,000 of merchandise inventory on hand. During 2013, $520,000 in merchandise was purchased on account with credit terms of 1/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Northwest paid freight charges of $8,400. Merchandise with an invoice amount of $4,900 was returned for credit. Cost of goods sold for the year was $377,000. Northwest uses a perpetual inventory system. Assuming Northwest uses the gross method to record purchases, what...
Northwest Fur Co started the year with $99,000 of merchandise inventory on hand. During the year, $435,000 in merch...
Northwest Fur Co started the year with $99,000 of merchandise inventory on hand. During the year, $435,000 in merchandise was purchased on account with credit terms of 1/5, 1/4 All discounts were taken Northwest paid freight in charges of $7000 Merchandise with an invoice amount of 14,500 was returned for credit Cost of goods sold for the year was $370,000 What is ending inventory? Multiple Choice Ο S166,500. Ο Ο S16190 Ο Ο $162 195. Ο Ο $65.000
Cinnamon Buns Co. (CBC) started 2021 with $53,600 of merchandise on hand. During 2021, $291,000 in merchandise was purch...
Cinnamon Buns Co. (CBC) started 2021 with $53,600 of merchandise on hand. During 2021, $291,000 in merchandise was purchased on account with credit terms of 3/10 n/30. All discounts were taken. Purchases were all made f.o.b. shipping point. CBC paid freight charges of $9,600. Merchandise with an invoice amount of $3,900 was returned for credit. Cost of goods sold for the year was $309,000. CBC uses a perpetual inventory system. Assuming CBC uses the gross method to record purchases, ending...
Barty Crouch Jr Co. started 2021 with $90,000 of polyjuice potion inventory. During 2021, $572,000 in...
Barty Crouch Jr Co. started 2021 with $90,000 of polyjuice potion inventory. During 2021, $572,000 in polyjuice potion was purchased on account with credit terms of 4/15, n/45. All discounts were taken. Barty Crouch Jr Co. paid freight charges of $8,800. Polyjuice potion with an invoice amount of $6,000 was returned for credit. Cost of goods sold for the year was $400,000. Barty Crouch Jr Co.uses a perpetual inventory system, records purchases using the gross method, and all purchases were...
13. Vivian An Co. started 2018 with $94.000 of merchandise inventory on hand. During 2018, $410,000...
13. Vivian An Co. started 2018 with $94.000 of merchandise inventory on hand. During 2018, $410,000 in merchandise was purchased on account with credit terms of 2/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Vivian paid freight charges of $7,600. Merchandise with an invoice amount of $4,100 was returned for credit. Cost of goods sold for the year was $372.000. Vivian uses a perpetual inventory system. A. Date 927,000 What is ending inventory assuming Vivian...
North Texas Inc. started 2018 with $100,000 of merchandise inventory on hand. During 2018, $600,000 in...
North Texas Inc. started 2018 with $100,000 of merchandise inventory on hand. During 2018, $600,000 in merchandise was purchased on account with credit terms of 2/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. North Texas paid freight charges of $8400. Merchandise with an invoice amount of $5000 was returned for credit. Cost of goods sold for the year was $369,000. North Texas uses a perpetual inventory system. Assuming North Texas uses the gross method to...
MC Qu.36 Cinnamon Buns Co.(CBC) started 2018... Cinnamon Buns Co. (CBC) started 2018 with $52,600 of...
MC Qu.36 Cinnamon Buns Co.(CBC) started 2018... Cinnamon Buns Co. (CBC) started 2018 with $52,600 of merchandise on hand. During 2018, $294,000 in merchandise was purchased on account with credit terms of 2/10 n/30. All discounts were taken. Purchases were all made f.o.b.shipping point CBC paid freight charges of $9,900. Merchandise with an invoice amount of $3,800 was returned for credit. Cost of goods sold for the year was $305,000. CBC uses a perpetual inventory system Assuming CBC uses the...
Northwest Fur Co. Started 2021 with $111.000 of merchandise inventory on hand. During 2021, $480,000 in merchandise was purchased on account with credit terms of 2/15. n/45. All discounts were taken. Purchases were all made fo.b. shipping point Northwest paid freight charges of $8.100. Merchandise with an invoice amount of $3.300 was returned for credit. Cost of goods sold for the year was $376,000. Northwest uses a perpetual inventory system Assuming Northwest uses the gross method to record purchases, what...
Northwest Fur Co started 2021 with $111000 of merchandise inventory on hand. During 2021 $480,000 in merchandise was purchased on account with credit terms ol2/15, 1:45. All discounts were taken. Purchases were all made fob shipping point. Northwest paid freight charges of $8.00 Merchandise with an invoice amount of $300 was returned to credit cost of goods sold for the year was $376,000. Northwest uses a perpetual inventory system Assuming Northwest uses the gross method to record purchases, what is...
Northwest Fur Co started the year with $99,000 of merchandise inventory on hand. During the year, $435,000 in merchandise was purchased on account with credit terms of 1/5, 1/4 All discounts were taken Northwest paid freight in charges of $7000 Merchandise with an invoice amount of 14,500 was returned for credit Cost of goods sold for the year was $370,000 What is ending inventory? Multiple Choice Ο S166,500. Ο Ο S16190 Ο Ο $162 195. Ο Ο $65.000
Barty Crouch Jr Co. started 2021 with $90,000 of polyjuice potion inventory. During 2021, $572,000 in polyjuice potion was purchased on account with credit terms of 4/15, n/45. All discounts were taken. Barty Crouch Jr Co. paid freight charges of $8,800. Polyjuice potion with an invoice amount of $6,000 was returned for credit. Cost of goods sold for the year was $400,000. Barty Crouch Jr Co.uses a perpetual inventory system, records purchases using the gross method, and all purchases were...
13. Vivian An Co. started 2018 with $94.000 of merchandise inventory on hand. During 2018, $410,000 in merchandise was purchased on account with credit terms of 2/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Vivian paid freight charges of $7,600. Merchandise with an invoice amount of $4,100 was returned for credit. Cost of goods sold for the year was $372.000. Vivian uses a perpetual inventory system. A. Date 927,000 What is ending inventory assuming Vivian...
MC Qu.36 Cinnamon Buns Co.(CBC) started 2018... Cinnamon Buns Co. (CBC) started 2018 with $52,600 of merchandise on hand. During 2018, $294,000 in merchandise was purchased on account with credit terms of 2/10 n/30. All discounts were taken. Purchases were all made f.o.b.shipping point CBC paid freight charges of $9,900. Merchandise with an invoice amount of $3,800 was returned for credit. Cost of goods sold for the year was $305,000. CBC uses a perpetual inventory system Assuming CBC uses the...
Most questions answered within 3 hours.
-
Industry: Telecommunications in India
Here, you need to discuss the sources of the growth pattern
and...
asked 56 minutes ago -
Hydrobromic acid
dissolves solid iron according to the followiaung reaction:
Fe(s)+2HBr(aq)→
FeBr2(aq)+ H2(g)
Part A. What...
asked 2 hours ago -
Verify the following vector identity in SPHERICAL
COORDINATES.
div(curl(A)) = 0
asked 4 hours ago -
The work function (Φ) for a metal is 7.50×10-19 J.
What is the longest wavelength (nm)...
asked 5 hours ago -
1. Would the following procedural changes cause the
calculated mass percent Ni2+ ion in Ni(NH3)nCl2 to...
asked 6 hours ago -
1. Why does the voltage of the capacitor vary with frequency?
where does this missing voltage...
asked 7 hours ago -
p p please write each step out clearly
3. A manager of a company is considering...
asked 6 hours ago -
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $83,540 in...
asked 7 hours ago -
A.)As an electron moves through a region of space, its speed
decreases from 9.60 × 106...
asked 8 hours ago -
In java with the netbeans program do:
Through object programming
Create a class "ContadorP", which is...
asked 8 hours ago -
Pattern Corporation acquired all of Science
Company's outstanding stock on January 1, 2016 for $600,000 cash....
asked 8 hours ago -
Here are all accounts Tyler Co. maintains.
Tax expenses $4,750
Common stocks $48,840
SG&A expenses $2,500...
asked 8 hours ago