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pashok25 [27]
4 years ago
13

Company made total purchases of $ 310 comma 000 in the most current year. It paid freight in of $ 5 comma 500 on its purchases.

Freight​ out, the cost to deliver the merchandise when it was sold to Trift​'s ​customers, totaled $ 7 comma 800. Of the total purchases Trift made during the​ period, it returned $ 28 comma 000 of the merchandise. Trift took advantage of $ 2 comma 700 of purchase discounts offered by its vendors. What was Trift​'s cost of​ inventory?
Business
1 answer:
Slav-nsk [51]4 years ago
6 0

Answer:

Cost of​ inventory = $284,800

Explanation:

Given:

Purchase = $310,000

Fright inward = $5,500.

Fright outward = $5,500

Purchase return = $28000

Discount receive = $2,700

<u>Computation of Cost of​ inventory:      </u>

<u>Particular                                  Amount </u>

Purchase                                $310,000

<u>Add</u><u>: Fright inward                 $5,500    </u>

                                               $315,500

Less: Purchase return            $28000

<u>Less</u><u>: Discount receive           $2,700     </u>

<u>Cost of​ inventory                  $284,800 </u>

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