Using the data that follows and assuming cost of goods sold is $273,700, prepare the cost of goods sold section of a merchandising income statement (periodic inventory system). Include the amount of purchases for the month of October. Freight in $13,800 Merchandise inventory, Sept 30 2014 $37,950 Merchandise inventory Oct 31, 2014 $50,600 Purchases $? Purchases returns and allowances $10,350
Using the data that follows and assuming cost of goods sold is $273,700, prepare the cost of goods sold section of a merchandising income statement (periodic inventory system). Include the amount of purchases for the month of October. Freight in $13,800 Merchandise inventory, Sept 30 2014 $37,950 Merchandise inventory Oct 31, 2014 $50,600 Purchases $? Purchases returns and allowances $10,350
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Using the data that follows and assuming cost of goods sold is $273,700, prepare the cost of goods sold section of a merchandising income statement (periodic inventory system). Include the amount of purchases for the month of October.
Freight in $13,800
Merchandise inventory, Sept 30 2014 $37,950
Merchandise inventory Oct 31, 2014 $50,600
Purchases $?
Purchases returns and allowances $10,350
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