Kim Co. purchased goods with a list price of $175,000, subject to trade discounts of 20% and 10%, with no cash discounts allowable. How much should Kim Co. record as the cost of these goods

The cost of goods sold is the value of goods at which they are made available to the customers at an affordable price. The costs are the particular term used for the product's value to specify that the goods and services when availed to the customers carries a value or the price.  

The computation of the cost of these goods is shown below:

Hence, the cost of these goods is $126,000

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the cost of these goods is $126,000

Explanation:

The computation of the cost of these goods is shown below:

= List price × (1 -  first discount rate) × (1 - second discount rate)

= $175,000 × (1 - 0.20)  × (1 - 0.10)

= $126,000

Hence, the cost of these goods is $126,000

We simply applied the above formula so that the correct amount could come

The same is to be relevant

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