Answered

IDNLearn.com provides a user-friendly platform for finding answers to your questions. Get accurate and detailed answers to your questions from our dedicated community members who are always ready to help.

Based on the following data, determine the cost of merchandise sold for October. Merchandise Inventory, October 1 $ 98,560 Merchandise Inventory, October 31 102,330 Purchases 433,880 Purchases Returns & Allowances 12,760 Purchases Discounts 9,900 Transportation In 7,620

Sagot :

Abiolataiwo2015idn

Answer:

$414,070

Explanation:

Calculation to determine the cost of merchandise sold for October

Merchandise inventory, october 1 $ 98,560

Add: Purchases $433,880

Add: Transportation in $7,620

Less: Purchase return and allowances $12,760

Less: Purchase discount $9,900

Less: Merchandise inventory, october 31 $102,330

Cost of merchandise sold $414,070

Therefore the cost of merchandise sold for October will be $414,070

We appreciate your presence here. Keep sharing knowledge and helping others find the answers they need. This community is the perfect place to learn together. IDNLearn.com is dedicated to providing accurate answers. Thank you for visiting, and see you next time for more solutions.