HighSchool97654
31.03.2020 •
Business
Based on the following data, determine the cost of merchandise sold for November: Increase in estimated returns inventory$14,500 Merchandise inventory, November 128,000 Merchandise inventory, November 3031,500 Purchases475,000 Purchases returns and allowances15,000 Purchases discounts9,000 Freight in7,000
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Ответ:
$454,500
Explanation:
Cost of merchandise sold is the cost of the unit sold which is incurred to produce that merchandise. According to Matching concept the only the cost of the products which are sold should be charged against the revenue from that units. The cost of the inventory in hand should be deducted from the total value of inventory available for sale.
As per given data
Merchandise inventory, November 1 $28,000
Add: Purchases $475,000
Less: Purchases returns and allowances $15,000
Less: Purchases discounts $9,000
Add: Freight in $7,000
Less: Merchandise inventory, November 30 $31,500
Cost of Goods Sold $454,500
Ответ:
please don't k i l l yourself, life is beautiful :)