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How much is the cost of the inventories purchased? * Entity A acquires inventories and incurs the following costs: Purchase price, gross of trade discount Trade discount 20,000 100,000 Non-refundable purchase tax, not included in the purchase price above Freight-in (Transportation costs) 5,000 15,000 2,000 Commission to broker Advertisement costs 10,000

How much is the cost of the inventories purchased? * Entity A acquires inventories and incurs the following costs: Purchase price, gross of trade discount Trade discount 20,000 100,000 Non-refundable purchase tax, not included in the purchase price above Freight-in (Transportation costs) 5,000 15,000 2,000 Commission to broker Advertisement costs 10,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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How much is the cost of the inventories purchased? * Entity A acquires inventories and incurs the following costs: Purchase price, gross of trade discount Trade discount 20,000 Non-refundable purchase tax, not included in the purchase price above Freight-in (Transportation costs) 100,000 5,000 15,000 2,000 10,000 Commission to broker Advertisement costs Your answer
Transcribed Image Text:How much is the cost of the inventories purchased? * Entity A acquires inventories and incurs the following costs: Purchase price, gross of trade discount Trade discount 20,000 Non-refundable purchase tax, not included in the purchase price above Freight-in (Transportation costs) 100,000 5,000 15,000 2,000 10,000 Commission to broker Advertisement costs Your answer
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