On June 30 the general ledger of Kisling, Inc., had the following balances:

Purchases $ 42,880 Dr.
Freight In 2,376 Dr.
Purchases Returns and Allowances 2,960 Cr.
Purchases Discounts 2,050 Cr.

Compute the net delivered cost of purchases for Kisling, Inc.

Cost of Net Purchases =  $ 426166

Explanation:

Kisling, Inc

Purchases $ 42,880 Dr.

Add Freight In 2,376 Dr.

Less Purchases Returns and Allowances 2,960 Cr.

Less Purchases Discounts 2,050 Cr.

Net Purchases =  $ 426166

The freight in are the carriage costs that increase the cost of purchases. The purchase returns are the returns which reduce the amount of purchases and the discounts also decrease the cost of  net purchases.

This can be calculated using a T account.

Purchases               Purchases Returns

$ 428800                           $ 2960

Freight In                    Purchase Discounts

$ 2376                            $ 2050

                                Net Purchases 426166

431176                                431176

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

u = 30

continuing your method

= +

subtract from both sides

= - thus

= -

= ⇒ u = 30