A company had purchased inventory for $75,000. Purchases Returns and Allowances were $3,000 and Freight In was $5,000. If the beginning inventory was $45,000 and the ending inventory was $35,000, the cost of merchandise sold is: A) $77,000 B) $87,000 C) $82,000 D) $92,000

A company had purchased inventory for $75,000. Purchases Returns and Allowances were $3,000 and Freight In was $5,000. If the beginning inventory was $45,000 and the ending inventory was $35,000, the cost of merchandise sold is: A) $77,000 B) $87,000 C) $82,000 D) $92,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 3RE: Shaquille Corporation began the current year with inventory of 50,000. During the year, its...

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Get correct answer accounting questions

A company had purchased inventory for $75,000. Purchases Returns and
Allowances were $3,000 and Freight In was $5,000. If the beginning
inventory was $45,000 and the ending inventory was $35,000, the cost of
merchandise sold is:
A) $77,000
B) $87,000
C) $82,000
D) $92,000

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