S5b-17 (similar to) upper g wholesale company began the year with merchandise inventory of $ 5 comma 000. during the year, upper g purchased $ 97 comma 000 of goods and returned $ 6 comma 500 due to damage. upper g also paid freight charges of $ 1 comma 600 on inventory purchases. at year-end, upper g's ending merchandise inventory balance stood at $ 17 comma 200. assume that upper g uses the periodic inventory system. compute upper g's cost of goods sold for the year. less: plus: less: cost of goods sold

Cost of Goods Sold: 79,900

Explanation:

The returns decreases the net purchases, and the freight-in is a necessary cost for get the goods so; it is activate through inventory.

Beginning              5,000

Purchased            97,000

Return                   (6,500)

Fregith-in               1,600  

Good available:     97,100

The difference between goods available and ending inentory will be the cost of goods sale

Ending Inventory (17,200)

Cost of Goods Sold: 79,900

answer; that person may have a larger tax bill to pay on income taxes;

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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