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gtnhenbr [62]
3 years ago
12

Based upon the following data for a business with a periodic inventory system, determine the cost of merchandise sold for August

. Merchandise inventory, August 1 $ 96,610 Merchandise inventory, August 31 100,530 Purchases 254,660 Purchases returns and allowances 13,340 Purchases discounts 6,320 Freight in 4,070Cost of Merchandise Sold for August = ______.
Business
1 answer:
mamaluj [8]3 years ago
5 0

Answer:

Cost of merchandise = $235150

Explanation:

Below is the calculations:

Cost of merchandise = Opening inventory - ending inventory + purchases - purchase return - purchase discount + freight

Now plug the value in the above formula:

Cost of merchandise = 96610 - 100530 + 254660 - 13340 - 6320 +4070

Cost of merchandise = $235150

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4 years ago
Three aspects in the cover page of a business plan
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6 0
3 years ago
A cash flow series is increasing geometrically at the rate of 7​% per year. The initial payment at EOY 1 is ​$4 comma 000​, with
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Answer:

$ 83,921.45  

Explanation:

The present value of the cash flows can determined  by discounting to today's terms all of the cash flows involved.

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Download xlsx
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3 years ago
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