None Costs of $9,200 were incurred to acquiregoods and make them ready for sale. Thegoods were shipped to the buyer (FOBshipping point) for a cost of $600.Additional necessary costs of $1,300 wereincurred to acquire the goods. What is thebuyer's total cost of merchandiseinventory?

Concept of Purchase CostPurchase cost refers to the base price paid to acquire goods before any…

Answered: Costs of $9,200 were incurred to…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 4MC: If goods are shipped FOB destination, which of the following is true? A. Title to the goods will...

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2) A company sold goods costing $126,000 to customers. What should be included in the journal entry necessary to record this sale of goods to customers? O Credit to work-in-process inventory for $126,000. O Credit to cost of goods sold for $126,000. O Debit to work-in-process inventory for $126,000. O Debit to cost of goods sold for $126,000.
Compute cost of goods sold using the following information. Finished goods inventory, beginning Cost of goods manufactured Finished goods inventory, ending $ 760 7,960 900 Cost of Goods Sold is Computed as: Cost of goods sold
Using $3,040,000 as the cost of goods manufactured, compute the cost of goods sold using the following information.
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Umbria, Inc. has compiled the following data: View the data. Compute the amount of direct materials used. I = Direct Materials Used Data Purchases of Direct Materials Freight In Property Taxes Ending Direct Materials Beginning Direct Materials Print Done O $ 6,600 800 1,400 1,600 4,400 X
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Warner Co. is a manufacturer of wagons. How much will the company report as cost of goods sold on the income statement? Cost of goods purchased Ending finished goods inventory Beginning finished goods inventory Cost of goods manufactured Cost of goods sold LA $15,100 3,200 2,900 17,500
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At the various activity levels shown, Harper Company incurred the following costs: 4 Units sold 20 40 60 80 100 a. Rental cost per unit of merchandise sold b. Total phone expense c. Cost per unit of supplies d. Total insurance cost e. Total salary cost f. Total cost of goods sold g. Depreciation cost per unit h. Total rent cost i. Total cost of shopping bags j. Cost per unit of merchandise sold 36.00 $ 18.00 2$ 120.00 12.00 2$ 9.00 2$ 7.20 80.00 100.00 140.00 160.00 1.00 1.00 1.00 1.00 1.00 480.00 480.00 480.00 480.00 480.00 1,200.00 1,600.00 2,000.00 2,400.00 7, 200.00 2,800.00 9,000.00 1,800.00 3,600.00 5,400.00 240.00 120.00 80.00 60.00 48.00 3,200.00 6.00 90.00 3,200.00 3,200.00 2.00 3,200.00 4.00 3,200.00 10.00 8.00 90.00 90.00 90.00 90.00 Required Identify each of these costs as fixed, variable, or mixed. a. b. С. d. e. f. g.
A manufacturing company has a beginning finished goods inventory of $28,600, raw material purchases of $39,000, cost of goods manufactured of $81,500, and an ending finished goods inventory of $45,800. The cost of goods sold for this company is: O $56,200 O $64,300 O $81,500 O $110,100 O $74,700 Question 5 The beginning and ending finished goods inventories of the Prize Ring manufacturin company were $92,000 and $85,750 respectively. If cost of goods sold equale- $74.200 for this period? F3 F4 F5 F6 F7 F8 A 다

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Costs of $9,200 were incurred to acquire goods and make them ready for sale. The goods were shipped to the buyer (FOB shipping point) for a cost of $600. Additional necessary costs of $1,300 were incurred to acquire the goods. What is the buyer's total cost of merchandise inventory?