Langga Company provided the following information for the current year: Beginning inventory 400 000 Freight in 300,000 Purchase returns 900,000 Ending inventory 500,000 Distribution Cost 1,250,000 Sales discount 250,000 The cost of goods sold is six times the distributions costs. What is the amount of gross purchases?

Langga Company provided the following information for the current year: Beginning inventory 400 000 Freight in 300,000 Purchase returns 900,000 Ending inventory 500,000 Distribution Cost 1,250,000 Sales discount 250,000 The cost of goods sold is six times the distributions costs. What is the amount of gross purchases?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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