Below is a table identifying all the accounts in the Cost of Goods Sold Section of the Profit and Loss Statement. What are the purchase returns and cost of goods available for sale amounts? Cost of Goods Closing Purchases Inwards Available Stock Goods for Sale Cost Opening Stock Purchases Net Freight of Purchases Returns Sold 10 000 24 000 ? 20,500 800 ? 9 000 22,300 Select one: a. 3,500 and 19,700 O b. 3,500 and 31,300 O c. 13,500 and 31,300 O d. 13,500 and 18,000
Below is a table identifying all the accounts in the Cost of Goods Sold Section of the Profit and Loss Statement. What are the purchase returns and cost of goods available for sale amounts? Cost of Goods Closing Purchases Inwards Available Stock Goods for Sale Cost Opening Stock Purchases Net Freight of Purchases Returns Sold 10 000 24 000 ? 20,500 800 ? 9 000 22,300 Select one: a. 3,500 and 19,700 O b. 3,500 and 31,300 O c. 13,500 and 31,300 O d. 13,500 and 18,000
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter5: Accounting For Retail Businesses
Section: Chapter Questions
Problem 40E: Identify items missing in determining cost of goods sold For (a) through (e), identify the items...
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