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Alex73 [517]
3 years ago
13

Blossom Company's accounting records show the following for the year ending on December 31, 2017.

Business
1 answer:
LuckyWell [14K]3 years ago
4 0

Answer:  $678,220

Explanation:

Given that,

Purchase Discounts = $ 11,000

Freight-in = $15,300

Purchases = $689,020

Beginning Inventory = $55,000

Ending Inventory = $45,600

Purchase Returns and Allowances = $15,100

Cost of goods purchased:

= Purchases + Freight in - Purchase discounts - Purchase returns and allowances

= $689,020  + $15,300  - $ 11,000  -  $15,100

= $678,220

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