Wholesale Company began the year with merchandise inventory of $ 9 comma 000 . During the year, Upper Y purchased $ 90 comma 000 of goods and returned $ 6 comma 500 due to damage. Upper Y also paid freight charges of $ 1 comma 200 on inventory purchases. At year-end, Upper Y 's ending merchandise inventory balance stood at $ 17 comma 800 . Assume that Upper Y uses the periodic inventory system. Compute Upper Y 's cost of goods sold for the year.

Cost of goods sold is $ 75.900

Explanation:

Cost of goods sold = Opening Inventory + Net Purchases - Closing Inventory

Opening Inventory                                                              $ 9,000

Purchases                                 $ 90,000

Less: Purchase returns            $( 6,500)

Add: Freight In                         $   1,200

Net purchases                                                                    $ 84,700

Cost of goods available for sale                                       $ 93,700

Less: Closing Inventory                                                     $ (17,800)

Cost of goods sold                                                            $ 75,900

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.