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Northwest Fur Co. Started 2021 with $111.000 of merchandise inventory on hand. During 2021, $480,000 in merchandise was purch
Ο $592,500. Ο $586,266. Ο $586,200. Ο $595,800.
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Answer #1
Beginning inventory $111,000
(+) Inventory purchased $480,000
(+) Freight charges $8,100
(-) Merchandise returned $3,300
(-) Discount ($480,000 - $3,300) * 2% $9,534
Cost of goods Avaiable foe sale $586,266
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