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Synzer Co. has incurred the following costs in connection with its purchase of inventory: Purchase price based on vendors' invoices Trade discounts on purchases already deducted from P1,250,000 vendors' invoices 125,000 Salaries of accounting department Brokerage commission paid to agents for arranging imports Sales commission paid to sales agents After – sales warranty costs 150,000 50,000 75,000 62,500 Import duties Freight and insurance on purchases Other handling costs relating to imports 100,000 250,000 25,000 What is the total cost of the purchases?

Synzer Co. has incurred the following costs in connection with its purchase of inventory: Purchase price based on vendors' invoices Trade discounts on purchases already deducted from P1,250,000 vendors' invoices 125,000 Salaries of accounting department Brokerage commission paid to agents for arranging imports Sales commission paid to sales agents After – sales warranty costs 150,000 50,000 75,000 62,500 Import duties Freight and insurance on purchases Other handling costs relating to imports 100,000 250,000 25,000 What is the total cost of the purchases?

FINANCIAL ACCOUNTING
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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What is the total cost of the purchases?

Synzer Co. has incurred the following costs in connection with its purchase of inventory: Purchase price based on vendors' invoices Trade discounts on purchases already deducted from P1,250,000 vendors' invoices 125,000 Salaries of accounting department Brokerage commission paid to agents for arranging imports Sales commission paid to sales agents 150,000 50,000 75,000 After – sales warranty costs 62,500 Import duties Freight and insurance on purchases Other handling costs relating to imports 100,000 250,000 25,000 What is the total cost of the purchases?
Transcribed Image Text:Synzer Co. has incurred the following costs in connection with its purchase of inventory: Purchase price based on vendors' invoices Trade discounts on purchases already deducted from P1,250,000 vendors' invoices 125,000 Salaries of accounting department Brokerage commission paid to agents for arranging imports Sales commission paid to sales agents 150,000 50,000 75,000 After – sales warranty costs 62,500 Import duties Freight and insurance on purchases Other handling costs relating to imports 100,000 250,000 25,000 What is the total cost of the purchases?
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