Brighton Enterprises provides the following amounts for the current year: Beginning inventory: $25,000 Ending inventory: $32,000 • Purchases: $180,000 • Purchase returns: $6,500 • Freight-out: $7,500 Calculate the cost of goods sold (COGS) for Brighton Enterprises.

Brighton Enterprises provides the following amounts for the current year: Beginning inventory: $25,000 Ending inventory: $32,000 • Purchases: $180,000 • Purchase returns: $6,500 • Freight-out: $7,500 Calculate the cost of goods sold (COGS) for Brighton Enterprises.

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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Cost of goods sold

Brighton Enterprises provides the following amounts for the current year:
Beginning inventory: $25,000
Ending inventory: $32,000
• Purchases: $180,000
• Purchase returns: $6,500
• Freight-out: $7,500
Calculate the cost of goods sold (COGS) for Brighton Enterprises.

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