Subject - accountPlease help me. Specialty Candles has provided the following details:Inventory purchased on accountFreight inMar. 7Mar. 8Mar. 13Mar. 14Mar. 16 Payment made to vendor for purchases on March 7Purchase returnsAllowances from vendorCredit terms are: 4/10, n/45, FOB shipping point. Calculate the net cost of inventory purchased assuming that thereare no other inventory-related transactions during the month. Assume that the perpetual inventory system is used.O A. $90,500B. $91,680O C. $94,000D. $91,880$95,0005,0004,000500?حلى

Based on the given information, let's calculate the payment made to the vendor for the purchases on…

Specialty Candles has provided the following details: Mar. 7 Inventory purchased on account Mar. 8 Freight in Purchase returns Allowances from vendor Mar. 13. Mar. 14 Mar. 16 Payment made to vendor for purchases on March 7 $95,000 5,000 4,000 500 ? Credit terms are: 4/10, n/45, FOB shipping point. Calculate the net cost of inventory purchased assuming that there are no other inventory - related transactions during the month. Assume that the perpetual inventory system is used.

Specialty Candles has provided the following details: Mar. 7 Inventory purchased on account Mar. 8 Freight in Purchase returns Allowances from vendor Mar. 13. Mar. 14 Mar. 16 Payment made to vendor for purchases on March 7 $95,000 5,000 4,000 500 ? Credit terms are: 4/10, n/45, FOB shipping point. Calculate the net cost of inventory purchased assuming that there are no other inventory - related transactions during the month. Assume that the perpetual inventory system is used.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Exercise 7-37 (Algo) Prorate Over- or Underapplied Overhead (LO 7-3) Marian Manufacturing (2M) applies manufacturing overhead to jobs based on direct labor costs, For Year 2, 2M estimates its manufacturing overhead to be $422,760 and its direct labor costs to be $813,000. 2M worked on three jobs for the year. Job 2M-1, which was sold during Year 2, had actual direct labor costs of $536,250. Job 2M-2, which was completed but not sold at the end of the year, had actual direct labor costs of $360,750. Job 2M-3, which is still in work-in-process inventory, had actual direct labor costs of $78,000. Actual manufacturing overhead for Year 2 was $540,400. Required: Prepare an entry to allocate over- or underapplied overhead to Work in Process, Finished Goods and Cost of Goods Sold. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
How do i adjust entries for a merchanting buisness
Clicking Generate at the bottom of the A/P Create Payment Batch form creates a payment batch. Group of answer choices. True False
in need the answer in the general journal box??
prepare journal enteries?
please solve this question with all steps and workings of notes to account as well following IND AS
What does the QuickBooks Online Check Register do?
Could I see the journal entries please?
Registers in OBO: Multiple Choice Display more detailed information about accounts Display all transactions for the account Display a running balance for the account All of these choices are correct.
what is the differnce between quickbooks online and QuickBooks desktop?
Diplay graphically and explain mechanism of settlements by collection orders
Put everything in the general journal