1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
gtnhenbr [62]
2 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]2 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

You might be interested in
On April 1, Griffith Publishing Company received $33,480 from Santa Fe, Inc. for 36-month subscriptions to several different mag
WARRIOR [948]

Answer:

Debit Unearned Fees, $8,370

Credit Fees Earned, $8,370

Explanation:

Based on the information given we were told that the Company received the amount of $33,480 from Santa Fe for 36 month on April 1 in which we are to assumed that the adjustments will be made at the year end this means that the adjusting entry will be to:

Debit Unearned Fees, $8,370

Credit Fees Earned, $8,370

Calculated as :

Amount received $33,480/36 months ×9 months

=$8,370

Note that from 1st April to 31st December will give us 9 months.

7 0
3 years ago
What is the source of most cut flowers sold in the United States
REY [17]
Today, Colombia is the dominant producer of U.S. cut flowers, with roses, carnations, spray chrysanthemums and Alstroemeria among its top crops
7 0
3 years ago
The _____ is an approach whereby an organization allocates its marketing mix resources to reach its target markets.
spin [16.1K]
Strategic marketing process is the answer. Hope this helps.
5 0
2 years ago
Which of the following statements about savings accounts is FALSE?
Andru [333]

Answer:

False Statement

Explanation:

Saving accounts pay interest on the money you deposit.

4 0
3 years ago
In 2021, due to a change in marketing forecasts, Barney Corporation reduced the projected life of its patent for producing round
Nikitich [7]

Answer: unaffected

Explanation:

We should note that a retrospective adjustment isn't necessarily needed when there's an alternation to a accounting estimate.

With regards to this Barney's retained earnings as of December 31, 2021, would neither be understated or overstated but would be unaffected.

8 0
2 years ago
Other questions:
  • "Devon takes temporary family leave from her job at equipment rentals and sales company to care for a newborn baby. With respect
    14·1 answer
  • On Kyle Thomason’s $400,000.00 loan, the lender charges a 2-point service charge. In this situation, how much will Kyle have to
    14·2 answers
  • At the beginning of this year, daily consumption of gasoline in the US amounted to 344 million gallons. It is estimated that for
    15·1 answer
  • The subject of the auditing procedure inspecting is least likely to be: a. lease agreements. b. physical assets. c. personnel. d
    6·1 answer
  • Patrice and Patrick are twins. They sit down to discuss their college plans with their parents. If both choose an in-state schoo
    6·2 answers
  • Name three tasks a military police personnel stationed at a detention facility might be responsible for on any given day.
    6·1 answer
  • They are chasing a dog convert into passive voice​
    13·1 answer
  • Which two things do CRM methods accomplish?
    14·2 answers
  • Nicholas is the production manager for a manufacturing firm. He has two supervisors who are experiencing conflict with each othe
    13·1 answer
  • What is watermill?write it advantages<br>​
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!