XYZ Corporation had reported the following amounts at December 31, 2014: beginning inventory $17,000; gross purchases $160,000; purchase discounts $3,000; purchase returns and allowances $2,000; freight-in $1,000; ending inventory $14,000. Calculate the cost of goods available for sale. A) $197,700 B) $102,000 C) $69,400 D) $173,000 E) $74,100
XYZ Corporation had reported the following amounts at December 31, 2014: beginning inventory $17,000; gross purchases $160,000; purchase discounts $3,000; purchase returns and allowances $2,000; freight-in $1,000; ending inventory $14,000. Calculate the cost of goods available for sale. A) $197,700 B) $102,000 C) $69,400 D) $173,000 E) $74,100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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financial accounting need answer :)
![XYZ Corporation had reported the following amounts at December 31, 2014: beginning inventory $17,000; gross purchases $160,000; purchase discounts $3,000;
purchase returns and allowances $2,000; freight-in $1,000; ending inventory $14,000. Calculate the cost of goods available for sale.
O A)
$197,700
B)
$102,000
C)
$69,400
O D)
$173,000
E)
$74,100](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb3c6f3a9-534e-4454-9a46-31dc1272a101%2F1133053f-1000-4a0d-94f3-09d059dea38c%2Fzwv005b_processed.jpeg&w=3840&q=75)
Transcribed Image Text:XYZ Corporation had reported the following amounts at December 31, 2014: beginning inventory $17,000; gross purchases $160,000; purchase discounts $3,000;
purchase returns and allowances $2,000; freight-in $1,000; ending inventory $14,000. Calculate the cost of goods available for sale.
O A)
$197,700
B)
$102,000
C)
$69,400
O D)
$173,000
E)
$74,100
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