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Business, 13.08.2020 17:01 Galaxystyx
Northwest Fur Co. started 2021 with $105,000 of merchandise inventory on hand. During 2021, $510,000 in merchandise was purchased on account with credit terms of 3/15, n/45. All discounts were taken. Purchases were all made f. o.b. shipping point. Northwest paid freight charges of $8,900. Merchandise with an invoice amount of $3,700 was returned for credit. Cost of goods sold for the year was $362,000. Northwest uses a perpetual inventory system. What is ending inventory assuming Northwest uses the gross method to record purchases
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Business, 22.06.2019 03:00
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Northwest Fur Co. started 2021 with $105,000 of merchandise inventory on hand. During 2021, $510,000...
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