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Reika [66]
2 years ago
5

Marsh, inc. paid for freight costs on merchandise it shipped to a customer. in what account will marsh record this cost in a per

petual inventory system?
Business
1 answer:
Alexxandr [17]2 years ago
3 0
The answer for this is <span>freight-out
</span>The entry to record the payment of freight costs for goods shipped to a customer requires a debit to Freight-out and a credit to cash. Freight-out is not part of the cost of inventory; it is a delivery expense and appears among the operating expenses on the income statement.
<span>In contrast, freight-in is used to record the shipping costs associated with acquiring inventory (note: when using a perpetual inventory system, the shipping cost associated with acquiring inventory is debited to Inventory).</span>
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3 years ago
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Saddle, If I'm right then, I'm glad to help!
8 0
3 years ago
Kermit's Hardware's (KH) fixed operating costs are $20.8 million and its variable cost ratio is 0.30. The firm has $10 million i
motikmotik

Answer:

Option (a) is correct.

Explanation:

EBIT:

= Revenues - Fixed operating costs - (variable cost ratio × revenues)

= $32.2 - $20.8 - (0.30 × 32.2)

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3 0
3 years ago
As of December 1, Year 2, a company obtained a $1,000,000 line of credit maturing in 1 year on which it has drawn $250,000, a $7
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Answer:

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